Today’s Forex Guide

USD/CHF 4-hour: Broke above the 23% Fibonacci level as entering the Ichimoku’s cloud


Mar.31.2015

8:30 am (EST) Update

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

Invest Diva positioning: Short positions below 1.0808 with targets at 1.0674 and 1.0456 in extension.

Technical reasons why: The pair broke below the Ichimoku's cloud with the RSI below the neutrality area.

Alternative Scenario: Above 1.0808 look for further upside with 1.1026 and 1.1160.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.0674 1.0808 1.1160
1.0456 1.1026


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Moving down.

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

Technical reasons why: The pair is moving down towards our bearish target at 1.4734 below the Ichimoku's cloud. The RSI remains 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


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Broke above the 23% Fibonacci level as entering the Ichimoku's cloud.

Invest Diva positioning: Long positions above 0.9691 with targets at 0.9808 and 1.0121 in extension.

Technical reasons why: The pair broke above our pivot level at the 23% Fibonacci level as entering the Ichimoku's cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 0.9691 look for further downside with 0.9497 and 0.9210.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9425 0.9691 1.0121
0.9210 0.9990


USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Reached our targets.

Invest Diva positioning: Long positions above 1.2747 with targets at 1.2833 and 1.2971 in extension.

Technical reasons why: The pair reached our bullish target at 1.2747 above the Ichimoku's cloud and continues to move up towards the previous top level at 1.2833. The RSI also reached over-bought zone.

Alternative Scenario: Below 1.2747 look for further downside with 1.2659 and 1.2524.

Where I'm setting my stops and limits:
1.2337 1.2659

Support Levels Turning Point Resistance Levels
1.2390 1.2524 1.2747
1.2337 1.2659

Back to Top

Learn How to Grow Your Wealth