Today’s Forex Guide

USD/CAD 4-hour: Rebounding from the resistance


Feb.25.2015

02/25/2015 8:30 EST Update


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Reached the target.

Invest Diva positioning: Short-term short positions below 1.5509 with targets at 1.5441 and 1.5352 in extension.

Technical reasons why: The pair reached our first bullish target at 1.5509 above the Ichimoku's cloud. Given the recent up-and-down moves, a short-term rebound would be expevted. The RSI is heading down from the over-bought zone.

Alternative Scenario: Above 1.5509 look for further upside with 1.5584 and 1.5707.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.5441 1.5509 1.5707
1.5352 1.5584


AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Reached and teasing the 38% Fibonacci level.

Invest Diva positioning: Long positions above 0.7878 with targets at 0.7949 and 0.8019 in extension.

Technical reasons why: The pair reached and surpassed our bullish target at 0.7842 and is now teasing the 38% Fibonacci level above the Ichimoku's cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 0.7878 look for further downside with 0.7790 and 0.7648.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7790 0.7878 0.8019
0.7648 0.7949


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

Invest Diva positioning: Long positions above 0.7520 with targets at 0.7598 and 0.7693 in extension.

Technical reasons why: The pair broke above the Ichimku's cloud and the pivot level at 0.7520 with the RSI above the neutrality area.

Alternative Scenario: Below 0.7520 look for further downside with 0.7443 and 0.7348.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7443 0.7520 0.7693
0.7348 0.7520


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

Invest Diva positioning: Short positions below 1.2630 with targets at 1.2360 and 1.2090 in extension.

Technical reasons why: The pair is rebounding from the resistance level at 1.2630 as breaking below the Ichimoku's cloud. The RSI is below the neutrality area.

Alternative Scenario: Below 1.2630 look for further downside with 1.2779 and 1.2989.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2360 1.2630 1.2989
1.2090 1.2779

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