Today’s Forex Guide

NZD/USD 4-hour: Moving down


Apr.07.2015

3:30 pm (EST) Update

NZD/USD 4-hour Forex Dance Floor
NZD/USD 4-hour: Moving down.

Maria's positioning: Short positions below 0.7507 with targets at 0.7462 and 0.7390 in extension.

Technical reasons why: The pair is moving down inside the Ichimoku's cloud towards the 23% Fibonacci level as the bullish trend line. A break below this line would signal further down-moves. The RSI is below the neutrality area.

Alternative Scenario: Above 0.7507 look for further upside with 0.7543 and 0.7579.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7462 0.7570 0.7579
0.7390 0.7543


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Rebounding.

Maria's positioning: Long positions above 0.9638 with targets at 0.9731 and 0.9805 in extension.

Technical reasons why: The pair is rebounding from the previous bottom at 0.9489 and testing the 23% Fibonacci level and the Ichimoku's cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 0.9638 look for further downside with 0.9489 and 0.9373.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9489 0.9638 0.9805
0.9373 0.9731

 

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