Forex Diva's report

Video: Yes to risk appetite


Oct.28.2014

From the city that loves to trade, My name is Kiana Danial, a Persian member of the tribe, an Electrical Engineering graduate from Japan, and the founder of Invest Diva right here in New York, and this, is your forex trading analysis for the week, using our unique metaphor of dancing currency pairs on the forex dance floor.

Kiana Danial W Hotel New York Invest Diva trading player

European investors started Monday by testing risk appetite in the Euro-zone market, and their positive moves continued till Tuesday.  Tuesday’s New York session starts with the US Core Durable Goods Orders at 1:30 PM GMT followed by the US Conference Board Consumer Confidence at 3 PM.  Wednesday’s Asian session starts with New Zealand ANZ Business Confidence at 1 am GMT. Not much going on the the London session and the real volatility should kick off at 7 PM with the US FOMC Statement, followed by Reserve Bank of New Zealand Rate Statement at 9 PM.


IMG 1 AUDUSD
 Mr. Aussie remains confused and unable to sort out his new trend against Ms. USA as they continue to dance in a range below the Ichimoku cloud but above a key support level   at 0.8670. A break above the 23% Fibonacci level would be needed for confirmation of a new uptrend, while a break below 0.8670 could open doors for more drops with 0.8600 as first alternative target. 

IMG 2 EURUSD

EUR/USD remains above a key support level but below the Ichimoku cloud, as the market is testing investors risk appetite in the Euro-zone.  Our outlook remains bearish with 1.2495 and 1.2260 as targets, however a break above 1.2890 would change our outlook to bullish with 1.3100 as first alternative target. 


IMG 3 USDJPY

Ms. USA pulled back a bit on Monday against Mr. Japanese Yen after breaking above the 23% Fibonacci level on Friday.  The pair continues to dance above the Ichimoku cloud, and only a break below the 50% Fibonacci level at 104.320 would change our outlook to bearish.  

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Intraday Forex Technical Levels


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

Invest Diva Likes: Long positions above 1.6114 with targets at 1.6186 and 1.6258 in extension.

If Pair Goes Nuts: Below 1.6114 look for further downside towards 1.6025 and 1.5942.

What's up on the Forex Dance Floor: The pair is consolidating at the 38% Fibonacci and teasing the upper boundary of Ichimoku's cloud. The RSI is heading up from the neutrality area.

Supports and Resistances
1.6258

1.6186

1.6114 Pivot point

1.6025

1.5942


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

Invest Diva Likes: Short positions below 1.1208 with targets at 1.1164 and 1.1097 in extension.

If Pair Goes Nuts: Above 1.1248 look for further upside towards 1.1384 and 1.1445.

What's up on the Forex Dance Floor: The pair has been consolidating below the 76% Fibonacci level at 1.1248 below the Ichimoku's cloud. The RSI is heading down from the neutrality area.

Supports and Resistances
1.1445

1.1384

1.1248

1.1208 Pivot Point

1.1164

1.1097


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

Invest Diva Likes: Short positions below 0.9491 with targets at 0.9392 and 0.9336 in extension.

If Pair Goes Nuts: Above 0.9491 look for further upside towards 0.9573 and 0.9689.

What's up on the Forex Dance Floor: The pair is teasing the pivot level at 0.9491 after completing the double bottom pattern above the Ichimoku's cloud with the RSI around the neutrality area. Market sentiment of one of the largest international brokers shows that 60% of traders are long the pair and the combination of the technicals and current sentiment gives a further bearish bias.

Supports and Resistances
0.9689

0.9573

0.9491 Pivot Point

0.9392

0.9336


EUR/JPY 4-hour Forex Dance Floor
EUR/JPY 4-hour: Moving up.

Invest Diva Likes: Long positions above 136.83 with targets at 137.67 and 138.50 in extension.

If Pair Goes Nuts: Below 136.83 look for further downside towards 135.80 and 134.13.

What's up on the Forex Dance Floor: The pair has broken above the 38% Fibonacci level at 136.83, and remainsabove the Ichimoku's cloud. The RSI is above the neutrality area.

Supports and Resistances
138.50

137.67

136.83 Pivot Point

135.80

134.83

Intraday Commodities Technical Levels

Dow Jones Intraday: supported by a rising trend line.

Invest Diva Likes: Long positions above 16620 with targets at 16840 and 16945 in extension.

Alternative scenario: Below 16620 look for further downside with 16515 and 16380 as targets.

Gold spot Intraday: under pressure.

Invest Diva Likes: Short positions below 1240 with targets at 1221.5 and 1208 in extension.

Alternative scenario: Above 1240 look for further upside with 1246 and 1255 as targets.

Crude Oil Intraday: under pressure.

Invest Diva Likes: Short positions below 81.9 with targets at 79 and 78 in extension.

Alternative scenario: Above 81.9 look for further upside with 82.4 and 83.2 as targets.

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