USD/CHF 4-hour: Consolidating below the target

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USD/CHF 4-hour: Consolidating below the target

02/24/2015 15:30 EST Update


NZD/USD 4-hour Forex Dance Floor
NZD/USD 4-hour: Moving inside the Ichimoku’s cloud.

Invest Diva positioning: No position.

Technical reasons why: The pair is moving inside the Ichimoku’s cloud after failing to break below our pivot level and the lower boundary of the Ichimoku’s cloud at 0.7443. The RSI is below the neutrality area.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7348 0.7520 0.7879
0.7139 0.7693


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Consolidating below our target.

Invest Diva positioning: Long positions above 0.9336 with targets at 0.9556 and 0.9730 in extension.

Technical reasons why: The pair is consolidating below our first bullish level at 0.9336 above the Ichimoku’s cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 0.9336 look for further downside with 0.8977 and 0.8350.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.8977 0.9336 0.9730
0.8350 0.9556

 

near to target