02/17/2015 8:30 EST Update
GBP/USD 4-hour: Consolidating.
Invest Diva positioning: No positions.
Technical reasons why: The pair is consolidating below our pivot level at 1.5413 above the Ichimoku’s cloud. The RSI is moving down above the neutrality area.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.5271 | 1.5413 | 1.5753 |
| 1.5150 | 1.5573 |
AUD/USD 4-hour: Broke above the pivot level at 0.7794.
Invest Diva positioning: Long positions above 0.7794 with targets at 0.8010 and 0.8227 in extension.
Technical reasons why: The pair broke above the key resistance level at 0.7794 and the Ichimoku’s cloud with the RSI moving above the neutrality area.
Alternative Scenario: Below 0.7794 look for further downside with 0.7660 and 0.7457.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7660 | 0.7794 | 0.8227 |
| 0.7457 | 0.8010 |
NZD/USD 4-hour: Moving up above the pivot level.
Invest Diva positioning: Long positions above 0.7443 with targets at 0.7597 and 0.7697 in extension.
Technical reasons why: The pair continues to move up after breaking above the key resistance level at 0.7443 above the Ichimoku’s cloud. The RSI is above the neutrality area.
Alternative Scenario: Below 0.7443 look for further downside towards 0.7341 and 0.7220.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7341 | 0.7443 | 0.7697 |
| 0.7220 | 0.7597 |
USD/JPY 4-hour: Rebounding from the support level.
Invest Diva positioning: Long positions above 118.45 with targets at 120.63 and 121.83 in extension.
Technical reasons why: The pair is supported by the pivot level at 118.45 and is again moving above the Ichimoku’s cloud. The RSI is at the neutrality area.
Alternative Scenario: Below 118.45 look for further downside towards 117.29 and 116.05.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 117.29 | 118.45 | 121.83 |
| 116.05 | 120.63 |
