Today’s Forex Guide

USD/CAD 4-hour: Moving down as entering the Ichimoku’s cloud


Apr.02.2015

3:30 pm (EST) Update

USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Moving down as entering the Ichimoku's cloud.

Invest Diva positioning: Short positions below 1.2645 with targets at 1.2524 and 1.2412 in extension.

Technical reasons why: The pair continues to move down towards our bearish target at 1.2645 as entering the Ichimoku's cloud.

Alternative Scenario: Above 1.2645 look for further upside with 1.2747 and 1.2833.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2524 1.2645 1.2833
1.2412 1.2747


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Moving within the range of 1.498 and 1.474.

Invest Diva positioning: No positions.

Technical reasons why: As moving within the range of 1.4986 and 1.4742 key levels, the pair is currently consolidating below the pivot level at 1.4853 below the Ichimoku's cloud with the RSI at the neutrality area. The RSI keeps around the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.4742 1.4853 1.5094
1.4637 1.4986

 

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