NZD/USD 4-hour: Consolidating at the 50% Fibonacci level

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NZD/USD 4-hour: Consolidating at the 50% Fibonacci level

02/19/2015 15:30 EST Update

NZD/USD 4-hour: Consolidating at the 50% Fibonacci level.

Invest Diva positioning: Long positions above 0.7520 with targets at 0.7693 and 0.7879 in extension.

Technical reasons why: The pair is consolidating at the 50% Fibonacci level at 0.7514 above the Ichimoku’s cloud. The RSI is moving above the neutrality area.

Alternative Scenario: Below 0.7520 look for further downside towards 0.7348 and 0.7193.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7348 0.7520 0.7879
0.7193 0.7693

USD/JPY 4-hour: Trapped inside the Ichimoku’s cloud.

Invest Diva positioning: No positions.

Technical reasons why: The pair continues to move inside the Ichimoku’s cloud and between our pivot levels. The RSI is at the neutrality area.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
117.29 118.45 121.83
116.05 120.63