EURUSD Forecast and Trade setup for the week ending 15th August, 2014

EURUSD Forecast and Trade setup for the week ending 15th August, 2014

Weekly Chart

• Slight Positive Divergence on stochastic
• Pin bar candle
• note from a 1.34 figure level and support level
• Clouds in Bullish View

Daily Chart

•  Positive Divergence on Stochastic setting up nicely
• Friday Candle is Bullish Engulfing 
• Note resistance is shown in Green where sell signals could start to play
• Clouds are in bearish view

• More comfortable taking a long from the next support
• Completes a AB=CD
• 61.8 fib

Hourly Chart

• At the bearish clouds and resistance zone on a Daily TF (note this range is quite wide so we might have a range play?)
• Positive Divergence on stochastics and MACD
• Rising RSI

• Bullish forecast on the Clouds
• Rising MACD
• RSI is Bullish

Outlook Trade opportunity

So the only timeframe chart which shows a bearish view will be the Daily, all the others (Weekly, H1 and H4) all points bullish, So would be interested to go for a long trade and close out before Thursdays GDP and CPI releases

Tips -

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