Last week was a great week for Invest Diva followers as together we reached a number of our long term targets and made money! Congratulations on your pips Forex Divas!
We are still looking to make more pips so bear with us and continue watching our FX market videos and follow our signals.
The Jackson Hole Summit created a gap among many major currency pairs after the weekend, mostly bullish for the US dollar and bearish for Euro and Japanese yen. British pound strengthened on Monday after reaching our bearish target from last week at 1.6650. The pair remains below the Ichimoku cloud and we could see more drops towards the 38% fibonacci level with targets set at 1.6500 and 1.6300 in extension. Now if the pair suddenly decides to go nuts and break back above the Ichimoku and the 1.71 level, that would open doors for more gains towards 1.74 and 1.79.
EUR/USD dropped massively last week, breaking below the 50% Fibonacci level and reaching our target of 1.33. Monday’s gap opened the pair below the 61% Fibo level and in a long run we could see more drops with 1.31 and 1.29 as targets. A break above 1.37, would change our outlook to bullish with 1.4 & 1.4245 as targets.
USD/JPY also made us some pip as it reached our first bullish target at 103.92 and continues to dance above the Ichimoku cloud.We are expecting more up moves towards 105 as long as the pair remains above our long-term support and 61% Fibonacci level at 100. A break below this level would change our outlook to bearish with the 97 level as first alternative target.
USD/CHF also remains on the upside after break the downward channel last month and then breaking above the 61% Fibonacci level. we could see more gains towards 0.92 and previous top at 0.9250 in extension. A break below 0.8911 would change our outlook to bearish with 0.87 as first alternative
Long term traders. Don’t sweat the small losses and look at the big picture. Short term traders,invest responsibly, and if you’re interested in learning forex trading. check out InvestDiva.com’s Learn to Earn section to see your options.
Short Term Technical Analysis
AUD/USD 4-hour: Teasing the resistance level at 0.9323 and Ichimoku’s cloud.
Invest Diva likes: Long positions above 0.9323 with targets at 0.9349 and 0.9376 in extension.
If pair goes nuts: Below 0.9291 look for further downside with 0.9239 and 0.92100.
What’s up on the forex dance floor: The pair is moving in the Ichimoku’s cloud and under 38% Fibonacci level and kind of consolidating.
Supports and resistances
0.9376
0.9349
0.9323 pivot point
0.9291
0.9239
GBP/JPY 4-hour: Consolidating.
Invest Diva likes: Short positions below 172.38 with targets at 171.98 and 171.48 in extension.
If pair goes nuts: Above 61% Fibonacci level at 1.7272, look for more upside towards 173.28 and 174.36
What’s up on the forex dance floor: The pair is rebounding from a previous downtrend, broke above the 50% Fibonacci level but hasn’t been able to reach the 61% level. With the RSI in the neutrality area, the pair needs to gain a lot more strength to break above the 61% Fibonacci level in order for more up moves
Supports and resistances
174.36
173.28
172.38 pivot point
171.98
171.48
USD/CAD 4-hour:Reached our previous target of 1.0985. Now moving down.
Invest Diva likes: Short positions below 1.0985 with targets at 1.0944 and 1.0928 in extension.
If pair goes nuts: Above 1.099 look for more upside with 1.104 as next alternative target
What’s up on the forex dance floor: The pair is on an overall uptrend but currently rebounding from the support level at 1.099. The RSI is moving down towards the neutrality area.
Supports and resistances
1.104
1.099
1.0963 pivot point
1.0944
1.09215
Dow Jones | Gold | Oil
Dow Jones Intraday: the upside prevails.
Invest Diva’s like: Long positions above 16960 with targets at 17145 and 17230 in extension.
Alternative scenario: Below 16960 look for further downside with 16855 and 16740 as targets.
Gold Intraday: limited upside.
Invest Diva’s like: Long positions above 1274 with targets at 1288 and 1292 in extension.
Alternative scenario: Below 1274 look for further downside with 1270 and 1266 as targets.
Crude Oil Intraday: bullish bias above 92.5.
Invest Diva’s like: Long positions above 92.5 with targets at 94.5 and 95.4 in extension.
Alternative scenario: Below 92.5 look for further downside with 92 and 91.6 as targets.
#1 Best Selling Author. Helping you accelerate your retirement with Triple Compounding™ Former engineer on a mission to help 1 million households take control of their finances. Founder & CEO of Invest Diva.