The Non-farm payrolls came in and didn’t give us the volatility we were looking for in the US dollar, however we did see some moves in the EUR/USD pair.
I talked about the Aussie dollar yesterday and covered it on my Benzinga interview massively as well along with my outlook on Crude Oil and the US dollar.
In their monetary policy statement today at the beginning of the Asian session, the Reserve Bank of Australia said the nation’s economy is set to remain subdued and warned Japan’s monetary policy could spur flows that support the Aussie dollar.
“Gross domestic product growth is still expected to be below trend until mid-2015,” the RBA said “could hold the Australian dollar at a higher level than real economic fundamentals would imply,” it said. And that’s how the investors got excited and we saw some up-moves in Mr. Aussie.
But will this rise be long-lived? The technicals don’t suggest so.
Don’t forget to adjust your stops and limits for your open trades over the weekend. Happy Friday!
Intraday Forex Technical Levels
EUR/USD 4-hour: Consolidating
Invest Diva Likes: Short positions below 1.2363 with targets at 1.2299 and 1.2241 in extension.
If Pair Goes Nuts: Above 1.2363 look for further upside towards 1.2487 and 1.2563.
What’s up on the Forex Dance Floor: The pair is on an overall downtrend but is now consolidating at the new bottom and support level at 1.2363 below the Ichimoku’s cloud. The RSI is below the neutrality area.
Supports and Resistances
1.2241
1.2299
1.2363 Pivot Point
1.2487
1.2563
GBP/USD 4-hour: Reached bearish target.
Invest Diva Likes: Short positions below 1.5825 with targets at 1.5719 and 1.5655 in extension.
If Pair Goes Nuts: Above 1.5825 look for further upside towards 1.5882 and 1.5957.
What’s up on the Forex Dance Floor: The pair reached our bearish target at 1.5825 below the Ichimoku’s cloud with the RSI teasing the oversold zone. A break of this level could signal further drops.
Supports and Resistances
1.5957
1.5882
1.5825 Pivot Point
1.5719
1.5655
USD/JPY 4-hour: Uptrend prevails.
Invest Diva Likes: Long positions above 115.60 with targets at 116.56 and 117.50 in extension.
If Pair Goes Nuts: Below 114.16 look for further downside towards 112.64 and 111.68.
What’s up on the Forex Dance Floor: The pair remains on an uptrend above the Ichimoku’s cloud and is teasing our bullish target at 115.60. The RSI is above the overbought zone.
Supports and Resistances
117.50
116.56
115.60
114.16 Pivot Point
112.64
111.68
USD/CHF 4-hour: Teasing the resistance level.
Invest Diva Likes: Long positions above 0.9737 with targets at 0.9815 and 0.9866 in extension.
If Pair Goes Nuts: Below 0.9648 look for further downside towards 0.9592 and 0.9548.
What’s up on the Forex Dance Floor: The pair is on an uptrend above the Ichimoku’s cloud. The RSI is teasing the overbought zone. Failure to break above this resistance level could bring the pair back to 50% Fibonacci level at 0.9548.
Supports and Resistances
0.9866
0.9815
0.9737 Pivot Point
0.9648
0.9592
0.9548
