Today’s Forex Guide

NZD/USD 4-hour: Reached the 23% Fibonacci level target


Mar.09.2015

3:30 pm (EST) Updated


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

Invest Diva positioning: Short positions below 0.7725 with targets at 0.7647 and 0.7457 in extension.

Technical reasons why: The pair is consolidating below the pivot level at 0.7725 below the Ichimoku's cloud. The RSI is also below the neutrality area.

Alternative Scenario: Above 0.7725 look for further upside with 0.7725 and 0.7877.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7648 0.7725 0.7877
0.7457 0.7790


NZD/USD 4-hour Forex Dance Floor
NZD/USD 4-hour: Reached the 23% Fibonacci level target.

Invest Diva positioning: Long positions above 0.7343 with targets at 0.7447 and 0.7532 in extension.

Technical reasons why: The pair reached the 23% Fibonacci level target and is rebounding from the level below the Ichimoku's cloud. The RSI is heading up from the over-sold zone.

Alternative Scenario: Below 0.7343 look for further downside with 0.7175 and 0.6970.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7175 0.7343 0.7532
0.6970 0.7447

 

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