Today’s Forex Guide

Non-Farm Payrolls Increase


Jan.09.2015

The hottest stuff of the week is finally out as snow covers NYC: Non-farm employment change (AKA NFP) came out this morning as we entered the New York trading session, and they were better than expected: rose by 252K in December. The unemployment rate declined to 5.6% and unemployment rate declined to 5.6.

US dollar (AKA Ms. USA)  is doing backflips on the forex dance floor and continued her rise against most of her forex dancing partners, dragging down the already weak leading currencies such as Mr. Euro and Mr. British Pound.

If you were prepared for this, you should have made some delicious pips on the news.... Otherwise prepare to face some quite times on the forex dance floor since there is a holiday coming up on Monday in Japan and other countries won't be making much noise start of next week either.

So loosed up your stops and limits on your open long-term trades, and wind down after the first busy week in 2015.

Intraday Forex Technical Levels


EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Consolidating.

Invest Diva positioning: Short positions below 1.1782 with targets at 1.1663 and 1.1536 in extension.

Technical reasons why: The pair is consolidating at our pivot level at 1.1782 below the Ichimoku's cloud. The RSI is around the oversold zone.

Alternative Scenario: Above 1.1782 look for further upside toward 1.18750 and 1.9700.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.1663 1.1782 1.1875
1.1536 1.1970


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Rebounded.

Invest Diva positioning: Short positions below 1.5173 with targets at 1.4954 and 1.4835 in extension.

Technical reasons why: The pair rebounded before reaching our bearish target at 1.4954 and teasing the pivot level at 1.15173 below the Ichimoku's cloud. The RSI keeps below the neutrality area.

Alternative Scenario: Above 1.5173 look for further upside toward 1.5273 and 1.5375.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.4954 1.5173 1.5273
1.4835 1.5375


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Uptrend prevails.

Invest Diva positioning: Long positions above 1.0162 with targets at 1.0307 and 1.0426 in extension.

Technical reasons why: The pair is on an overall uptrend above the Ichimoku's cloud. The RSI keeps moving around the overbought zone.

Alternative Scenario: Below 1.0162 look for further downside towards 1.0052 and 0.9963.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.0052 1.0162 1.0426
0.9963 1.0307


USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Consolidating above the key resistance level.

Invest Diva positioning: Long positions above 1.1880 with targets at 1.1996 and 1.2090 in extension.

Technical reasons why: The pair reached our bullish target at 1.1880 above the Ichimoku's cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 1.1880 look for further downside towards 1.1795 and 1.1665.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.1665 1.1795 1.1996
1.1600 1.1880


AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Broke above the Ichimoku's cloud.

Invest Diva positioning: Long positions above 0.8212 with targets at 0.8322 and 0.8410 in extension.

Technical reasons why: The pair broke above the Ichimoku's cloud and teasing the key resistance level and 23% Fibonacci level. The RSI is around the over-bought zone.

Alternative Scenario: Below 0.8212 look for further downside towards 0.8102 and 0.8036.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels

Support Levels Turning Point Resistance Levels
0.8102 0.8212 0.8410
0.8036 0.9322


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Failed to breal above Ichimoku's cloud.

Invest Diva positioning: Short positions below 119.35 with targets at 117.98 and 115.59 in extension.

Technical reasons why: The pair failed to break above the Ichimoku's cloud and our pivot level at 119.35. The RSI is heading to the oversold zone.

Alternative Scenario: Above 119.35 look for further upside toward 120.63 and 121.83.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
117.98 119.35 120.63
115.59 121.83

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