EUR/USD 4-hour: Teasing Ichimoku’s cloud.
Invest Diva positioning: Short positions below 1.2428 with targets at 1.2379 and 1.2300 in extension.
Technical reasons why: The pair is testing the upper boundary of Ichimoku’s cloud after reaching our target at 1.2428. The RSI is above the neutrality area.
Alternative Scenario: Above 1.2428 look for further upside towards 1.2507 and 1.2572.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.2379 | 1.2428 | 1.2572 |
| 1.2300 | 1.2507 |
GBP/USD 4-hour: Testing Ichimoku’s cloud.
Invest Diva positioning: Short positions below 1.5709 with targets at 1.5562 and 1.5474 in extension.
Technical reasons why: The pair failed to break above the 23% Fibonacci level and was once out of Ichimoku’s cloud. The RSI is around the neutrality area.
Alternative Scenario: Above 1.5709 look for further upside towards 1.5799 and 1.5873.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.5562 | 1.5709 | 1.5873 |
| 1.5474 | 1.5709 |
USD/CHF 4-hour: Formed a reversal doji candle pattern.
Invest Diva positioning: Long positions above 0.9650 with targets at 0.9710 and 0.9807 in extension.
Technical reasons why: The pair broke below the ichimoku cloud and formed a long legged doji candlestick which is often times a reversal signal. The RSI is moving below the nuetrality area.
Alternative Scenario: Below 0.9650 look for further downside towards 0.9601 and 0.9553.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.9601 | 0.9650 | 0.9807 |
| 0.9553 | 0.9710 |
USD/CAD 4-hour: Broke above the previous top.
Invest Diva positioning: Long positions above 1.1500 with targets at 1.1570 and 1.1667 in extension.
Technical reasons why: The pair continues to move up as breaking the previous top level at 1.1500 above the Ichimoku’s cloud. The RSI reached the overbought zone.
Alternative Scenario: Below 1.1500 look for further downside towards 1.1401 and 1.1339.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.1401 | 1.1500 | 1.1667 |
| 1.1339 | 1.1570 |
USD/JPY 4-hour: Testing Ichimoku’s cloud.
Invest Diva positioning: Short positions below 119.78 with targets at 118.45 and 117.21 in extension.
Technical reasons why: The pair is testing the Ichimoku’s cloud after rebouding from the support level at 117.21. The RSI remains below the neutrality area.
Alternative Scenario: Above 119.78 look for further upside towards 120.88 and 121.76.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 119.78 | 120.88 | 122.92 |
| 118.45 | 121.76 |
NZD/USD 4-hour: Consolidating at 50% Fibonacci level.
Invest Diva positioning: Short positions below 0.7799 with targets at 0.7759 and 0.7710 in extension.
Technical reasons why: The pair is consolidating at the 50% Fibonacci level at 0.7799 within the Ichimoku’s cloud. The RSI is moving down above the neutrality area.
Alternative Scenario: Above 0.7799 look for further upside towards 0.7839 and 0.7888.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7759 | 0.7799 | 0.7888 |
| 0.7710 | 0.7839 |
