AUDUSD Forecast and Trade Setup for the week 22th April, 2014

AUDUSD Forecast and Trade Setup for the week 22th April, 2014

• Bearish Trend continuation? (Correction over?)

Weekly Chart

• As anticipated on the previous weekly forecast, we have continued to reject from the Clouds/ Fib level 38.20
• Last weeks candle wiped off just over half of the previous bullish candle

Daily Chart

• Last week we had a two huge bearish days, however yesterday (Monday) we have a slightly bullish doji?
• Stochastic is also in oversold and turning and perhaps we might retrace and retest the resistance

Hourly Chart

• Above I have two charts, one with the Ichimoku and one without
• We broke slighly below the Ichimoku Clouds, and now trading in the clouds where i will look for hourly / 4hrly shooting star formation from the zone.

Hourly Chart

• There is a potential Cypher pattern if price goes up to 78.5% fib which is a good confluence of weekly R1 pivot and Resistance yellow zone on my chart.
• There is also other ways to look at it if you draw two sets of fibs and there good confluence levels to look for short opportunity.

Outlook Trade opportunity

As above in Hourly chart / or perhaps a potential Cypher

Risk Level LOW

Tips -

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