02/10/2015 8:30 Update
GBP/USD 4-hour: Consolidating
Long positions above 1.5271 with targets at 1.5368 and 1.5466 in extension.
Technical reasons why: The pair continues to consolidate around our pivot level while remaining above the Ichimoku’s cloud with the RSI heading up above the the neutrality area.
Alternative Scenario: Below 1.5271 look for further downside towards 1.5150 and 1.5053.
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Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.5150 | 1.5271 | 1.5466 |
| 1.5053 | 1.5368 |
AUD/USD 4-hour: Entered the Ichimoku’s cloud.
Invest Diva positioning: No positions
Technical reasons why: The pair is consolidating below the pivot level at 0.7879 inside the Ichimoku’s cloud while forming a spinning top. The RSI is at the neutrality area.
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: Rebounding from the key support level.
Invest Diva positioning: No positions.
Technical reasons why: The pair is rebounding above our pivot level above at 1.2445 below the Ichimoku’s cloud. A break below this level would signal further down moves. The RSI is at the neutrality area.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.2090 | 1.2445 | 1.2779 |
| 1.1880 | 1.2630 |
USD/JPY 4-hour: Broke above the pivot level.
Invest Diva positioning: Long positions above 118.790 with targets at 119.812 and 120.630 in extension.
Technical reasons why: The pair broke above the pivot level and Ichimoku cloud with the strong bullish sentiment. The RSI is above the neutrality area.
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 |
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