Today’s Forex Guide

USD/CHF 4-hour: Formed a reversal doji candle pattern


Dec.11.2014


EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Teasing Ichimoku's cloud.

Invest Diva positioning: Short positions below 1.2428 with targets at 1.2379 and 1.2300 in extension.

Technical reasons why: The pair is testing the upper boundary of Ichimoku's cloud after reaching our target at 1.2428. The RSI is above the neutrality area.

Alternative Scenario: Above 1.2428 look for further upside towards 1.2507 and 1.2572.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2379 1.2428 1.2572
1.2300 1.2507


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Testing Ichimoku's cloud.

Invest Diva positioning: Short positions below 1.5709 with targets at 1.5562 and 1.5474 in extension.

Technical reasons why: The pair failed to break above the 23% Fibonacci level and was once out of Ichimoku's cloud. The RSI is around the neutrality area.

Alternative Scenario: Above 1.5709 look for further upside towards 1.5799 and 1.5873.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.5562 1.5709 1.5873
1.5474 1.5709


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Formed a reversal doji candle pattern.

Invest Diva positioning: Long positions above 0.9650 with targets at 0.9710 and 0.9807 in extension.

Technical reasons why: The pair broke below the ichimoku cloud and formed a long legged doji candlestick which is often times a reversal signal. The RSI is moving below the nuetrality area.

Alternative Scenario: Below 0.9650 look for further downside towards 0.9601 and 0.9553.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9601 0.9650 0.9807
0.9553 0.9710


USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Broke above the previous top.

Invest Diva positioning: Long positions above 1.1500 with targets at 1.1570 and 1.1667 in extension.

Technical reasons why: The pair continues to move up as breaking the previous top level at 1.1500 above the Ichimoku's cloud. The RSI reached the overbought zone.

Alternative Scenario: Below 1.1500 look for further downside towards 1.1401 and 1.1339.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.1401 1.1500 1.1667
1.1339 1.1570


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Testing Ichimoku's cloud.

Invest Diva positioning: Short positions below 119.78 with targets at 118.45 and 117.21 in extension.

Technical reasons why: The pair is testing the Ichimoku's cloud after rebouding from the support level at 117.21. The RSI remains below the neutrality area.

Alternative Scenario: Above 119.78 look for further upside towards 120.88 and 121.76.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
119.78 120.88 122.92
118.45 121.76


NZD/USD 4-hour Forex Dance Floor
NZD/USD 4-hour: Consolidating at 50% Fibonacci level.

Invest Diva positioning: Short positions below 0.7799 with targets at 0.7759 and 0.7710 in extension.

Technical reasons why: The pair is consolidating at the 50% Fibonacci level at 0.7799 within the Ichimoku's cloud. The RSI is moving down above the neutrality area.

Alternative Scenario: Above 0.7799 look for further upside towards 0.7839 and 0.7888.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7759 0.7799 0.7888
0.7710 0.7839

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