AUDUSD - Trade Setup & Forecast for the week 17th Feb, 2014
The Aussie did fill my short setup and got our 1:1, however it had recovered all of the drop, so where is it heading?
Daily Chart
- Trading into the clouds
- Next major resistance is the fib level 38.2
- Stochastic Negative divergence
Hourly Chart
- 4hr ichikumo clouds is bullish (daily is bearish and trading in the clouds)
- MACD negative divergence
- The next move for the aussie is important, - as currently we have a minor support at 0.90030, if this holds, we will see further upside, and if it fails, then our bearish targets should be met.
Outlook Trade opportunity
We are still in our short trade (however i took partial profit when hit 1:1 last week)NO further setups identified
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