AUDUSD Forecast for the week 14th April 2014
- Bears stepping in?
Weekly Chart
- Weekly Ichimoku Clouds are near, and we have briefly spiked into the clouds acting as resistance
- Confluence level of Fib 38.20
- Also a Support and Resistance level
Daily Chart
- On a Daily, it shows a stronger resistance level (0.94) with Monthly Pivot R1 at the same level
- A Shooting Star Candle formation is also noted
- With the upper trend line of the ascending channel acting as resistance
- Stochastic is giving us a beautiful negative divergence
- Overall, Daily technical is giving us a perfect setup to go short
Hourly Chart
I Have the H4 and H1 chart shown
- H4 - We are trading above clouds, however H1 - we have broken the clouds
- H1 chart have drawn a descending and ascending trendline which forms a squeeze / triangle,
- Oscillators we are not seeing anything significant to note
No comments:
Post a Comment