02/25/2015 8:30 EST Update
GBP/USD 4-hour: Reached the target.
Invest Diva positioning: Short-term short positions below 1.5509 with targets at 1.5441 and 1.5352 in extension.
Technical reasons why: The pair reached our first bullish target at 1.5509 above the Ichimoku’s cloud. Given the recent up-and-down moves, a short-term rebound would be expevted. The RSI is heading down from the over-bought zone.
Alternative Scenario: Above 1.5509 look for further upside with 1.5584 and 1.5707.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.5441 | 1.5509 | 1.5707 |
| 1.5352 | 1.5584 |
AUD/USD 4-hour: Reached and teasing the 38% Fibonacci level.
Invest Diva positioning: Long positions above 0.7878 with targets at 0.7949 and 0.8019 in extension.
Technical reasons why: The pair reached and surpassed our bullish target at 0.7842 and is now teasing the 38% Fibonacci level above the Ichimoku’s cloud. The RSI is above the neutrality area.
Alternative Scenario: Below 0.7878 look for further downside with 0.7790 and 0.7648.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7790 | 0.7878 | 0.8019 |
| 0.7648 | 0.7949 |
NZD/USD 4-hour: Broke above the Ichimoku’s cloud.
Invest Diva positioning: Long positions above 0.7520 with targets at 0.7598 and 0.7693 in extension.
Technical reasons why: The pair broke above the Ichimku’s cloud and the pivot level at 0.7520 with the RSI above the neutrality area.
Alternative Scenario: Below 0.7520 look for further downside with 0.7443 and 0.7348.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7443 | 0.7520 | 0.7693 |
| 0.7348 | 0.7520 |
USD/CAD 4-hour: Rebounding.
Invest Diva positioning: Short positions below 1.2630 with targets at 1.2360 and 1.2090 in extension.
Technical reasons why: The pair is rebounding from the resistance level at 1.2630 as breaking below the Ichimoku’s cloud. The RSI is below the neutrality area.
Alternative Scenario: Below 1.2630 look for further downside with 1.2779 and 1.2989.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.2360 | 1.2630 | 1.2989 |
| 1.2090 | 1.2779 |
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