Today’s Forex Guide

USD/JPY 4-hour: Reached the new top level.


Mar.10.2015

8:30 am (EST) Update


EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Broke down the previous bottom.

Invest Diva positioning: Short positions below 1.0823 with targets at 1.0676 and 1.0520 in extension.

Technical reasons why: The pair broke down the current bottom level at 1.0823 below the Ichimoku's cloud. The RSI is at the over-sold zone.

Alternative Scenario: Above 1.0823 look for further upside with 1.0986 and 1.1168.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.6760 1.0823 1.1168
1.0520 1.0986


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

Invest Diva positioning: Short positions below 0.7343 with targets at 0.7175 and 0.6970 in extension.

Technical reasons why: The pair broke below the key support level at the 23% Fibonacci level below the Ichimoku's cloud. The RSI is at the over-sold zone.

Alternative Scenario: Above 0.7343 look for further upside with 0.7447 and 0.7532.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7175 0.7343 0.7532
0.6970 0.7447


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

Invest Diva positioning: Long positions above 0.9960 with targets at 1.0197 and 1.0353 in extension.

Technical reasons why: The pair remains uptrend and reached our bullish target at 0.9960 above the Ichimoku's cloud. The RSI is at the over-bought zone.

Alternative Scenario: Below 0.9960 look for further downside with 0.9767 and 0.9501.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9767 0.9960 1.0353
0.9501 1.0197


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Reached the new top level.

Invest Diva positioning: No positions.

Technical reasons why: The pair surpassed our bullish target at 121.60 and is now rebounding from its new top level at 122 with a strong bearish candle-stick above the Ichimoku's cloud. A break above this top level would signal a further up-moves.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
121.12 122.00 124.00
120.57 122.80

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