Today’s Forex Guide

Ms. USA – Mr. Swissy break Above Boundary


Jul.25.2014

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They did it. As predicted, USD/CHF pair broke above a bearish channel, hit the 61% Fibonacci level and resistance level at 0.90 today. Dancing above the Ichimoku cloud, the pair is quickly approaching the 0.91 area. The better than expected durable goods order report in the US helped Ms. USA to show some additional up-moves on the forex dance floor.

USDCHF technical analysis fibonacci Ichimoku bearish channel resistance daily chart

The forex calendar for the Friday afternoon U.K./morning U.S. trading session is incredibly light. We'll be back with more exciting dancing pair reports next week. In the mean time, invest responsibly intraday today and have a great weekend!

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Intraday Forex Technical Levels

EUR/USD Intraday: intraday support around 1.3435.

Invest Diva likes: Long positions above 1.3435 with targets @ 1.3485 & 1.35 in extension.

If pair goes nuts: Below 1.3435 look for further downside with 1.34 & 1.338 as targets.

What’s up on the forex dance floor: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:
1.353
1.35
1.3485
1.3446 Last
1.3435
1.34
1.338

EUR-USD-30-minute-forex-chart

GBP/USD Intraday: the downside prevails.

Invest Diva likes: Short positions below 1.702 with targets @ 1.696 & 1.692 in extension.

If pair goes nuts: Above 1.702 look for further upside with 1.705 & 1.7085 as targets.

What’s up on the forex dance floor: A break below 1.696 would trigger a drop towards 1.692.

Supports and resistances:
1.7085
1.705
1.702
1.6982 Last
1.696
1.692
1.685

USD/JPY Intraday: towards 102.15.

Invest Diva likes: Long positions above 101.65 with targets @ 102 & 102.15 in extension.

If pair goes nuts: Below 101.65 look for further downside with 101.4 & 101.15 as targets.

What’s up on the forex dance floor: The immediate trend remains up and the momentum is strong. Prices are shaping a bullish continuation pattern (Bullish Flag) calling for a rise towards 102.15.

Supports and resistances:
102.3
102.15
102
101.917 Last
101.65
101.4
101.15

USD-JPY-30-minute-forex-chart

USD/CHF Intraday: bullish bias above 0.9.

Invest Diva likes: Long positions above 0.9 with targets @ 0.9045 & 0.9075 in extension.

If pair goes nuts: Below 0.9 look for further downside with 0.8965 & 0.8935 as targets.

What’s up on the forex dance floor: A support base at 0.9 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
0.91
0.9075
0.9045
0.9039 Last
0.9
0.8965
0.8935

NZD/USD Intraday: the downside prevails.

Invest Diva likes: Short positions below 0.862 with targets @ 0.853 & 0.849 in extension.

If pair goes nuts: Above 0.862 look for further upside with 0.865 & 0.871 as targets.

What’s up on the forex dance floor: Technically the RSI is below its neutrality area at 50.

Supports and resistances:
0.871
0.865
0.862
0.855 Last
0.853
0.849
0.8475

AUD/USD Intraday: the downside prevails.

Invest Diva likes: Short positions below 0.9435 with targets @ 0.938 & 0.9355 in extension.

If pair goes nuts: Above 0.9435 look for further upside with 0.9475 & 0.9505 as targets.

What’s up on the forex dance floor: The RSI is mixed with a bearish bias.

Supports and resistances:
0.9505
0.9475
0.9435
0.9407 Last
0.938
0.9355
0.9335

USD/CAD Intraday: bounce.

Invest Diva likes: Long positions above 1.0695 with targets @ 1.0795 & 1.0825 in extension.

If pair goes nuts: Below 1.0695 look for further downside with 1.0655 & 1.0625 as targets.

What’s up on the forex dance floor: Technically the RSI is above its neutrality area at 50.

Supports and resistances:
1.0855
1.0825
1.0795
1.0754 Last
1.0695
1.0655
1.0625

US Index Update

 

S&P500

Long positions above 1854 with targets @ 2035 & 2070 in extension.

Alternative scenario: Below 1854 look for further downside with 1803 & 1731 as targets.

Dow Jones

Long positions above 16240 with targets @ 17440 & 17700 in extension.

Alternative scenario: Below 16240 look for further downside with 15875 & 15275 as targets.

Nasdaq 100 

Long positions above 3628 with targets @ 4065 & 4160 in extension.

Alternative scenario: Below 3628 look for further downside with 3404 & 3253 as targets.

 

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