EUR/USD 4-hour: Rebounding from the 38% Fibonacci level.
Maria’s Positioning: Long positions above 1.0824 with targets at 1.0910 and 1.1051 in extension.
Technical reasons why: The pair reached our bearish target at 1.0824 and is supported by the level and the bullish trend line. The RSI is at the neutrality area.
Alternative Scenario: Below 1.0824 look for further downside with 1.0753 and 1.0683
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.0725 | 1.0910 | 1.1161 |
| 1.0596 | 1.1051 |
AUD/USD 4-hour: Moving up towards the upper boundary of the Ichimoku’s cloud.
Maria’s positioning: Long positions above 0.7670 with targets at 0.7733 and 0.7792 in extension.
Technical reasons why: The pair is moving up inside the Ichimoku’s cloud with the RSI heading up above the neutrality area. A break above the upper boundary above the Ichimoku’s cloud would signal further up-moves.
Alternative Scenario: Below 0.7670 look for further downside with 0.7552 and 0.7498.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7552 | 0.7670 | 0.7792 |
| 0.7498 | 0.7912 |
NZD/USD 4-hour: Testing the 61% Fibonacci level.
Maria’s positioning: Long positions above 0.7579 with targets at 0.7624 and 0.7696 in extension.
Technical reasons why: The pair reached the 61% Fibonacci level at 0.7579 as breaking above the Ichimoku’s cloud and the center boundary of the Bollinger band. The RSI is above the neutrality area.
Alternative Scenario: Below 0.7579 look for further downside with 0.7543 and 0.7507.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7543 | 0.7579 | 0.7696 |
| 0.7507 | 0.7624 |
USD/CAD 4-hour: Broke below the Ichimoku’s cloud.
Maria’s Positioning: Short positions below 1.2412 with targets at 1.2332 and 1.2205 in extension.
Technical reasons why: The pair reached and is testing our bearish target at 1.2412 as breaking below the moderate bullish trend line below the Ichimoku’s cloud. The RSI is heading to the over-sold zone.
Alternative Scenario: Above 1.2412 look for further upside with 1.2525 and 1.2645.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.2412 | 1.2525 | 1.2747 |
| 1.2205 | 1.2645 |
