EURAUD forecast for the week 20th January, 2014

EURAUD forecast for the week 20th January, 2014

Daily Chart

• Although the upside seems limited, we are finding support around the monthly pivot 
• If we manage to break above last months highs, our next resistance for counter trend trade is shown on the chart
• RSI indicators is around 60 suggesting further uptrend is likely

Hourly Chart

• We are trading above weekly pivot , and if market retrace back there which also is a 61.8% fib / or a 38.2% retrace of recent swing , it provides good confluence level to take a long
• Stochastic are in the oversold zone
• RSI is neutral

Outlook Trade opportunity

As H4 chart suggests, a potential long trade.

**UPDATED** - Order filled - please see this link

Risk Level LOW

Tips -

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