Today’s Forex Guide

NZD/USD 4-hour: Downtrend prevails.


Jan.30.2015

1/30/2015 15:30 update


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

Invest Diva positioning: Short positions below 1.5053 with targets at 1.4954 and 1.4846 in extension.

Technical reasons why: The pair broke below the Ichimoku's cloud and teasing the pivot level at 1.5053. The RSI is moving below the neutrality area.

Alternative Scenario: Below 1.5053 look for further downside towards 1.5150 and 1.5271.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.4954 1.5053 1.5150
1.4846 1.5271


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Testing the Ichimoku's cloud.

Invest Diva positioning: Long positions above 0.9241 with targets at 0.9389 and 0.9571 in extension.

Technical reasons why: The pair is testing the upper boundary of the Ichimoku's cloud and the key resistance level at 0.9241. A break above this level would give more gains. The RSI is above the neutrality area.

Alternative Scenario: Below 0.9241 look for further downside towards 0.8997 and 0.8745.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.8997 0.9241 0.9571
0.8745 0.9389

1/30/2015 8:30 update


EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Teasing the Ichimoku's cloud.

Invest Diva positioning: No positions.

Technical reasons why: The pair is consolidating below the pivot level at 1.1384 and teasing the Ichimoku's cloud. The RSI is also moving flat at the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.1150 1.1384 1.1784
1.0995 1.1548


AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Heading down to the target.

Invest Diva positioning: Short positions below 0.7879 with targets at 0.7700 and 0.7457 in extension.

Technical reasons why: The pair broke below the previous bottom and moving down to our next bearish target at 0.7700 below the Ichimoku's cloud. The RSI is below the neutrality area.

Alternative Scenario: Above 0.7879 look for further upside towards 0.8036 and 0.8213.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7700 0.7879 0.8213
0.7457 0.8036


NZD/USD 4-hour Forex Dance Floor
NZD/USD 4-hour: Downtrend prevails.

Invest Diva positioning: Short positions below 0.7265 with targets at 0.7163 and 0.7007 in extension.

Technical reasons why: The pair is now testing the pivot level at 0.7265 below the Ichimoku's cloud with the RSI around the over-sold zone. Market sentiment of one of the largest international brokers shows that 64% of traders are long the pair and the combination of the technicals and current sentiment gives a further bearish bias.

Alternative Scenario: Above 0.7265 look for further upside towards 0.7402 and 0.7625.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7163 0.7265 0.7625
0.7007 0.7402


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

Invest Diva positioning: Long positions above 1.2664 with targets at 1.2779 and 1.2970 in extension.

Technical reasons why: The pair reached our bullish target at 1.2664 and keeps on uptrend above the Ichimoku's cloud. The RSI reached above the over-bought zone.

Alternative Scenario: Below 1.2664 look for further downside towards 1.2445 and 1.2090.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2445 1.2664 1.2970
1.2090 1.2779

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