AUDUSD Forecast and Trade Setup Levels to watch - Monday 7th July , 2014

AUDUSD Forecast and Trade Setup Levels to watch - Monday 7th July , 2014

Weekly Chart

• Note that we have negative divergence on stochastics

Daily Chart

• We have had two huge negative days and with Thursday wiping off the gains from last week
• I have noted the two scenarios - If support holds i believe a retrace to test the 0.94's is possible before further selling pressure
• If we break the support with ease, i'll look for pull back of broken support to ride it down to next support level

Hourly Chart

• We may start the week trying to retrace some of the losses last week, therefore i have noted the Resistance zone for possible short orders in green (which is also the pivot and 38.2 fib

Trend Filter Table

Trend Filter	Daily	H4	H1
3 MA Cross	Bullish (however 30 and 50 is close)	Bearish (have not crossed but pointing south)	Bearish
30SMA	Below	Below	Above
50SMA	Holding	Below	Below
100SMA	Above	Below	Below
Ichimoku	Bullish	Bearish	Bearish
SCORE	1/5 Bearish	5/5 Bearish	4/5 Bearish

*This table is to help you determine your direction of trades based on different Time Frames.

Outlook Trade opportunity

Market could try to retrace to target 0.9390, and there we would look for selling signals from price action

Risk Level LOW

Tips -

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