02/24/2015 8:45 EST Update
GBP/USD 4-hour: Reached the target.
Invest Diva positioning: Long positions above 1.5441 with targets at 1.5509 and 1.5584 in extension.
Technical reasons why: The pair is on an overall uptrend and reached our first bullish target at 1.5441 above the Ichimoku’s cloud. The RSI is slightly above the neutrality area.
Alternative Scenario: Below 1.5441 look for further downside with 1.5352 and 1.5280.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.5352 | 1.5441 | 1.5584 |
| 1.5280 | 1.5509 |
AUD/USD 4-hour: Reached the target.
Invest Diva positioning: Long positions above 0.7741 with targets at 0.7790 and 0.7842 in extension.
Technical reasons why: The pair reached our bearish target at 0.7741 while it keeps moving between the key levels, which would signal some up-moves in turn. The RSI moves up to the neutrality area.
Alternative Scenario: Below 0.7741 look for further downside with 0.7648 and 0.7457.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7648 | 0.7741 | 0.7842 |
| 0.7457 | 0.7790 |
USD/JPY 4-hour: Broke above the key resistance level.
Invest Diva positioning: Long positions above 119.23 with targets at 119.77 and 120.63 in extension.
Technical reasons why: The pair broke above the key resistance level at 119.23 and is moving above the Ichimoku’s cloud. The RSI is above the neutrality area.
Alternative Scenario: Below 119.23 look for further downside with 118.45 and 117.29.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 118.45 | 119.23 | 120.63 |
| 117.29 | 119.77 |
USD/CAD 4-hour: Reached the target.
Invest Diva positioning: Long positions above 1.2630 with targets at 1.2779 and 1.2989 in extension.
Technical reasons why: The pair reached our first bullish target at 1.2779 above the Ichimoku’s cloud. The RSI is above the neutrality area.
Alternative Scenario: Below 1.2630 look for further downside with 1.2360 and 1.2090.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.2360/td> | 1.2630 | 1.2989 |
| 1.2090 | 1.2779 |
#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.
