EURUSD Special Edition with Youtube - Outlook for the week 3rd - 7th February 2014

EURUSD Special Edition with Youtube - Outlook for the week 3rd - 7th February 2014 

Check out our first video trial post!

Monthly Chart

• Finally have a bearish candle month
• Rejection from the 61.8 retrace which also is a long term descending trendline
• Stochastic Negative Divergence
• note price closed at the 50% retrace level and if you scroll back, its at a close area of good support and resistance 

Weekly Chart

• Bearish engulfing candle
• Fibs in grey are of most recent swing up, and we have broken the 61.8 level, and looking at the 78.6 to 88.6 retrace level closely as its a strong level 
• Stochs are oversold

Daily Chart

• New low since November 2013
• Levels to watch is the same shown in weekly chart

Hourly Chart

• Have shown the trade setup from the 1.34080 level,
• reason is its a 78.6 fib retrace (bit under), 127.2 fib ext from dec high to mid jan low, you also have a 141.4 fib ext reverse

Outlook Trade opportunity

Please see hourly chart
Trend followers could short at a retest at the 61.8 fib / previous support (only if price has not touched my buy zone yet. (note on the video i was a bit hesitant on a trend follow trade)

Risk Level Low - medium

Tips -

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