AUDUSD Daily and Weekly Forecast for 7th January 2014 (Tuesday)

AUDUSD Daily and Weekly Forecast for 7th January 2014 (Tuesday)

Daily Chart

• We have been getting higher lows and higher highs in this corrective move
• Trend is Bearish
• Currently Stochastic is diverging, however RSI still going up and is below 50

Our forecast is for the Aussie to go up to 0.90300 before continuing down creating new lows.

Hourly Chart (4h chart)

• Last few days is showing an up trend
• Currently Stochastic is diverging
• We believe we have one more push (completion of b-c leg, before the C-D leg down)

Outlook Trade opportunity

#1 Long setup opportunity with a low risk high reward - Please see 4h chart for trade recommendation

#2 Short setup - Please see 4hr chart for trade recommendation

Risk Level LOW

Tips -

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