Today’s Forex Guide

NZD/USD 4-hour: Strongly rebounding


Mar.12.2015

8:30 am (EST) Update

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

Invest Diva positioning: Long positions above 1.0507 with targets at 1.0736 and 1.0877 in extension.

Technical reasons why: The pair reached our bearish target at 1.0520 and is rebounding from the level with the RSI heading up from the over-sold zone. Market sentiment of one of the largest international brokers shows that 62% of traders are short the pair and the combination of the technicals and current sentiment gives a further bearish bias.

Alternative Scenario: Below 1.0507 look for further downside with 1.0384 and 1.0153.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.0384 1.0507 1.0877
1.0153 1.0736


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

Invest Diva positioning: Long positions above 0.7559 with targets at 0.7222 and 0.7823 in extension.

Technical reasons why: The pair is rebounding after hitting the bottom level at 0.7559 while it remains below the Ichimou's cloud. The RSI is heading up above the neutrality area.

Alternative Scenario: Below 0.7559 look for further downside with 0.7457 and 0.7256.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.0384 1.0507 1.0877
1.0153 1.0736


NZD/USD 4-hour Forex Dance Floor
NZD/USD 4-hour: Strongly rebounding.

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

Technical reasons why: The pair is rebounding with strong bullish candle-sticks towards 38% Fibonacci level after reaching our bearish target at the previout bottom at 0.7152 below the Ichimoku's cloud. A break above the 38% Fibonacci level and the Ichimoku's cloud would give a further up-moves. The RSI is above the neutrality area.

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


USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Reached the target but failed to break above.

Invest Diva positioning: No positions.

Technical reasons why: The pair reached our bullish target at 1.2779 but failed to break above the level. It is now back to the pivot level above the Ichimoku's cloud. The RSI is aroun the neutralty area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2524 1.2659 1.2971
1.2390 1.2779

Back to Top

Learn How to Grow Your Wealth