Today’s Forex Guide

USD/CAD 4-hour: Falling with a strong bearish candle stick


Mar.04.2015

3:45 pm (EST) Update

USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Falling.

Invest Diva positioning: Short positions below 1.2524 with targets at 1.2378 and 1.2090 in extension.

Technical reasons why: The pair is moving down with a strong bearish candle stick below the Ichimoku's cloud. The RSI is below the neutrality area.

Alternative Scenario: Above 1.2524 look for further upside with 1.2630 and 1.2779.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2378 1.2524 1.2779
1.2090 1.2630


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

Invest Diva positioning: No positions.

Technical reasons why: The pair is consolidating around the pivot level at 23% Fibonacci level and the Ichimoku's cloud. The RSI is at the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7648 0.7790 0.7048
0.7457 0.7877

 

bear stay

Back to Top

Learn How to Grow Your Wealth