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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