Today’s Forex Guide

USD/JPY 4-hour: Failed to enter Ichimoku’s cloud


Dec.12.2014


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

Invest Diva positioning: Long positions above 1.2428 with targets at 1.2507 and 1.2572 in extension.

Technical reasons why: The pair is rebounding from the Ichimoku's cloud after reaching our bearish target at 1.2379. The RSI is heading up from the neutrality area.

Alternative Scenario: Below 1.2428 look for further downside towards 1.2379 and 1.2300.

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: Broke above 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 is consolidating at our pivot level at 1.5709 above the Ichimoku's cloud. The RSI is moving down above the nuetrality 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/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Failed to enter Ichimoku's cloud.

Invest Diva positioning: Short positions below 118.45 with targets at 117.21 and 115.48 in extension.

Technical reasons why: The pair failed to enter the Ichimoku's cloud and continues to consolidate at our pivot level at 118.45. The RSI is moving below the neutrality area.

Alternative Scenario: Above 118.45 look for further upside towards 119.78 and 120.88.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
117.21 118.45 120.88
115.48 119.78


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Failed to enter Ichimoku's cloud.

Invest Diva positioning: Short positions below 0.9650 with targets at 0.9601 and 0.9553 in extension.

Technical reasons why: The pair failed to enter the Ichimoku's cloud and dropped. The RSI is moving down below the neutrality area.

Alternative Scenario: Above 0.9650 look for further upside towards 0.9710 and 0.9807.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9601 0.9650 0.9807
0.9553 0.9710


AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Consolidating.

Invest Diva positioning: Short positions below 0.8248 with targets at 0.8102 and 0.7977 in extension.

Technical reasons why: The pair is consolidating at the support level at 0.8248 below the Ichimoku's cloud with the RSI below the neutrality area.

Alternative Scenario: Above 0.8248 look for further upside towards 0.8318 and 0.8387.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.8102 0.8248 0.8387
0.7977 0.8318


USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Moving up.

Invest Diva positioning: Long positions above 1.1570 with targets at 1.1667 and 1.1791 in extension.

Technical reasons why: The pair continues to move up as reaching our bullish target at 1.1570 above the Ichimoku's cloud. The RSI reached the overbought zone.

Alternative Scenario: Below 1.1570 look for further downside towards 1.1500 and 1.1401.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.1500 1.1570 1.1791
1.1401 1.1667

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