Today’s Forex Guide

USD/CAD 4-hour: Reaching our target as testing the Ichimoku’s cloud


Mar.30.2015

8:30 am (EST) Update

GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Broke below the key level.

Invest Diva positioning: Short positions below 1.4853 with targets at 1.4734 and 1.4637 in extension.

Technical reasons why: The pair broke below the key support level at 1.4853 below the Ichimoku's cloud. The RSI is below the neutrality area.

Alternative Scenario: Above 1.4853 look for further upside with 1.4986 and 1.5094.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.4734 1.4853 1.5094
1.4637 1.4963


NZD/USD 4-hour Forex Dance Floor
NZD/USD 4-hour: Entered the Ichimoku's cloud.

Invest Diva positioning: Short positions below 0.7533 with targets at 0.7488 and 0.7435 in extension.

Technical reasons why: The pair entered the Ichimoku's cloud as reaching our bearish target level at 0.7533. A break below the Ichimoku's cloud would signal further down-moves. The RSI is below the neutrality area.

Alternative Scenario: Above 0.7533 look for further upside with 0.7600 and 0.7696.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7483 0.7533 0.7696
0.7435 0.7600


USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Reaching our target as testing the Ichimoku's cloud.

Invest Diva positioning: Long positions above 1.2524 with targets at 1.2659 and 1.2747 in extension.

Technical reasons why: The pair is reaching our bullish target at 1.2659 as testing the upper boundary of the Ichimoku's cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 1.2524 look for further downside with 1.2390 and 1.2237.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2390 1.2524 1.2747
1.2337 1.2659


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Consolidating below the 23% Fibonacci level.

Invest Diva positioning: No positions.

Technical reasons why: While the pair keeps below the Ichimoku's cloud, it is consolidateing below the pivot level at the 23% Fibonacci level. The RSI is at the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9425 0.9691 1.0121
0.9210 0.9990

Back to Top

Learn How to Grow Your Wealth