EURAUD Forecast and Trade setup for the Week Ending 4th July , 2014

EURAUD Forecast and Trade setup for the Week Ending 4th July , 2014

Daily Chart

• A believe that there is one more swing low which could be the third drive
• Minor support had been broken which could indicate further downside
• Note next major support is at the 1.40 level

Hourly Chart

• As per Daily chart, it shows to me that we have broken the minor support
• Break of the trendline could potentially head down further to 1.41-1.40

Trend Filter Chart

Trend Filter	Daily	H4	H1
3 MA Cross	Bearish	Slightly Bearish	30 crossed 50
30SMA	Below	Below	Below
50SMA	Below	Below	Below
100SMA	Below	Below	Below
Ichimoku	Bearish	Bearish	Bearish
SCORE	5/5	5/5	5/5

Verdict – Perhaps only short trade is ideal while all Time Frames is pointing strongly bearish

Notes – Approaching 1.40 – 1.41 is where next major Support is.

Outlook Trade opportunity

Short trade after break of the trend line on H4

Risk Level Medium

Tips -

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