AUDUSD Forecast and Trade Setup for the week ending 29th August, 2014

AUDUSD Forecast and Trade Setup for the week ending 29th August, 2014

Monthly Chart

• Monthly Chart we are trading very near the fat resistance zone
• However if we do break the resistance zone, a very near next resistance from confluence of fibs is there
• There is also the descending trend line channel

Weekly Chart

• Oscillators are showing upward momentum
• Will look at the RSI to break to the upside for a possible long
• Be Cautious as Huge resistance zone

Daily Chart

• Daily Candles from resistance is showing good support giving us a bullish outlook for the near term
• Again, looking for the RSI to break to the upside for a long
• On the otherhand, we have monthly pivot / resistance possibly stopping the aussie longs

Hourly Chart

• Just look at the chart... :)

Outlook Trade opportunity

Looking for scalp buy trades opportunity to monthly pivot

Risk Level LOW

Tips -

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