USD/CAD 4-hour: Moving up as teasing the Ichimoku’s cloud.
Invest Diva positioning: Long positions below 1.2378 with targets at 1.2630 and 1.2779 in extension.
Technical reasons why: The pair is rebounding from the key support level and teasing the upper boundary of the Ichimoku’s cloud. The RSI is above the neutrality area.
Alternative Scenario: Below 1.2378 look for further downside with 1.2090 and 1.1880.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.2090 | 1.2378 | 1.2779 |
| 1.1880 | 1.2630 |
USD/JPY 4-hour: Breaking above the Ichimoku’s cloud and reached 23% Fibonacci level.
Invest Diva positioning: No positions.
Technical reasons why: The pair is testing the 23% Fibonacci level at 119.45 as the upper boundary of the Bollinger band after breaking above the Ichimoku’s cloud.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 118.82 | 119.45 | 120.44 |
| 118.32 | 119.77 |
#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.
