Monday, May 26, 2014

EURUSD Forecast and Trade Setup for the week 26th May, 2014

EURUSD Forecast and Trade Setup for the week 26th May, 2014


Weekly Chart

  • The three weekly candles are extremely bearish and closed last week breaking the ascending trendline
    • There is Negative Divergence on the stochastic
  • Ichimoku Study - Trading above the clouds

Daily Chart


  • We have saw price flirt around the Support and Resistance zone / Ascending Trendline and was unable to stay above , therefore it is likely the market will test the next support zone.
    • Saying that it would be ideal to sell on pull backs
  • Ichimoku Study - Bearish (trading below clouds)

Hourly Chart


  • The H4 chart shows that the basically we were trading in a very tight range last week, and by friday has failed to stay above .
    • If market gives us a pull back scenario, I would be interested to sell (please see the blue zone on H4 Chart)
  • Ichimoku Clouds - Bearish (trading below Clouds)

Outlook Trade opportunity

Short trades preferred - See H4 Chart and also Daily Chart

Risk Level LOW


Tips -

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



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