Ms. USA Back to Being Queen

Ms. USA Back to Being Queen

Yesterday the US Fed committee had the exact opposite tone than last month, helping Ms. USA to get back on track with her up-moves after the brief pull-back in October.

The FOMC statement on Wednesday rocked the USD/JPY pair as it finally fully confirmed the break above the 23% Fibonacci level and we could expect more up-moves towards the previous top at 110. At this point, only a break below 105.420 would change our outlook to bearish.

German Prelim CPI came out worse than expected n Thursday, while US Advance GDP came in better than forecast, causing a drop in the EUR/USD pair.Fed Head Janet Yellen is due to speak at 2 PM. A More Hawkish than expected tone could push the US dollar even higher.

Friday could be a big day for the Japanese Yen as we expect to hear Bank of Japan’s Outlook.

Intraday Forex Technical Levels

EUR/USD 4-hour: Rebounding.

Invest Diva Likes: Short positions below 1.2586 with targets at 1.2511 and 1.2442 in extension.

If Pair Goes Nuts: Above 1.2661 look for further upside towards 1.2753 and 1.2828.

What’s up on the Forex Dance Floor: The pair has reached to the previous bearish targets and is now teasing the support level at 1.2586 below the Ichimoku’s cloud. The RSI is below the neutrality area.

Supports and Resistances
1.2828

1.2753

1.2661

1.2586 Pivot point

1.2511

1.2442

GBP/USD 4-hour: Rebounding.

Invest Diva Likes: Short positions below 1.5942 with targets at 1.5882 and 1.5825 in extension.

If Pair Goes Nuts: Above 1.6025 look for further upside towards 1.6114 and 1.6186.

What’s up on the Forex Dance Floor: The pair is rebounding above the support level at 1.5942 after confirming a double top candlestick pattern and breaking below the Ichimoku’s cloud. The RSI is below the neutrality area.

Supports and Resistances
1.6186

1.6114

1.6025

1.5942 Pivot Point

1.5882

1.5825

USD/JPY 4-hour: Rebounding.

Invest Diva Likes: Long positions above 109.17 with targets at 110.08 and 110.95 in extension.

If Pair Goes Nuts: Below 109.17 look for further downside towards 108 and 106.71.

What’s up on the Forex Dance Floor: The pair has reached our previous bullish target and key resistance level at 109.17 and is now rebounding from the level. The RSI is heading back from the overbought zone.

Supports and Resistances
110.95

110.08

109.17 Pivot Point

108

106.71

AUD/USD 4-hour: Ranging.

Invest Diva Likes: Long positions above 0.8828 with targets at 0.8934 and 0.9019 in extension.

If Pair Goes Nuts: Below 0.8754 look for further downside towards 0.8659 and 0.8502.

What’s up on the Forex Dance Floor: The pair continues to range inside a rising wedge and failing to approach the 38% Fibonacci levelaround the Ichimoku’s cloud. A break above the wedge will signal a reversal from bearish to bullish trend, while a break below the wedge could open doors for more drops. The RSI at neutrality area.

Supports and Resistances
0.9019

0.8934

0.8828 Pivot Point

0.8754

0.8659

0.8502