AUDUSD Forecast for the week 20th January, 2014

AUDUSD Forecast for the week 20th January, 2014

Daily Chart

• We have broken a main support last week after rejecting the monthly pivot level
• A retest of which now as resistance would be a good entry for trend continuation down
• Forecast support is at the 127.2fib ext which also is the Monthly S2 pivot at 0.862

4H Chart

Hourly Chart

• We are hoping the market would retrace to around the 50% (127.2ex) or 61.8 (161.8ex) so we could go short

Outlook Trade opportunity

Trade opportunity to go short and follow the trend is shown on the H1 Chart

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below