EUR/USD 4-hour: Reached the target to find the spinning top.
Maria’s Positioning: No positions.
Technical reasons why: While the pair reached our target at 1.0596 after confirming the double-top pattern below the Ichimoku’s cloud, there we could see the spinning top which shows market’s indecisiveness. The RSI is at the over-sold zone.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.0456 | 1.0596 | 1.0753 |
| 1.0324 | 1.0683 |
USD/CAD 4-hour: Rebounding with the evening star.
Maria’s positioning: Short positions below 1.2645 with targets at 1.2525 and 1.2412 in extension.
Technical reasons why: The pair is rebounding from the key level at 1.2645 with the evening star pattern below the support line. The RSI is heading down.
Alternative Scenario: Above 1.2645 look for further upside with 1.2747 and 1.2830.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.2525 | 1.2645 | 1.2830 |
| 1.2412 | 1.2747 |
