2/11/2015 8:30 EST update
EUR/USD 4-hour: Consolidating.
Invest Diva positioning: No positions
Technical reasons why: The pair continue to consolidate at the pivot level at 1.1308 just below the Ichimoku’s cloud. The RSI is slightly below the neutrality area.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.1150 | 1.1308 | 1.1784 |
| 1.0995 | 1.1548 |
AUD/USD 4-hour: Broke below the Ichimoku’s cloud.
Invest Diva positioning: Short positions below 0.7879 with targets at 0.7661 and 0.7457 in extension.
Technical reasons why: The pair broke below the Ichimoku’s cloud below the pivot level. The RSI is also heading below from the neutrality area.
Alternative Scenario: Above 0.7879 look for further upside with 0.8036 and 0.8213.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7661 | 0.7879 | 0.8213 |
| 0.7457 | 0.8036 |
USD/CAD 4-hour: Reached the first bullish target.
Invest Diva positioning: Long positions above 1.2630 with targets at 1.2779 and 1.2978 in extension.
Technical reasons why: The pair reached our first bullish target at 1.2630 and broke above the Ichimok’s cloud. The RSI is above the neutrality area.
Alternative Scenario: Below 1.2630 look for further downside with 1.2445 and 1.2090.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.2445 | 1.2630 | 1.2978 |
| 1.2090 | 1.2779 |
USD/JPY 4-hour: Moving up.
Invest Diva positioning: Long positions above 118.790 with targets at 119.812 and 120.630 in extension.
Technical reasons why: The pair is moving up above the pivot level and the Ichimoku’s cloud with the RSI reaching the over-bought zone.
Alternative Scenario: Below 118.79 look for further downside with 117.290 and 116.050 in extension
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 117.29 | 118.79 | 121.83 |
| 116.05 | 120.63 |
