Wednesday, August 27, 2014

NZDUSD Forecast and Trade setup for August / September 2014

NZDUSD Forecast and Trade setup for August / September 2014

- Cypher in play?! and with other factors supporting


Monthly Chart

  • Trend is still bullish and trading above the highs of last Decades
  • RSI broke the descending channel and possible test of the ascending trendline
  • Possible that we have yet to reach the D as shown on the chart 


Weekly Chart

  • Broke out of the triangle, it is possible for price to move back in it before continuing to the upside burst
  • RSI broke to the downside

Daily Chart

  • Cypher Pattern identified, (another pair is the GBPUSD also has the same pattern)
  • RSI broke to the upside and is a good indication for longs
  • Stochs also positive divergence
Hourly Chart

  • If you haven't entered , advisable to enter at a retrace after it breaks the descending channel.
  • RSI broke to the upside

Outlook Trade opportunity

Just read the Daily and Hourly for clues !
Good for a H4 chart trade 
or 
Position trade on a Daily / Weekly - With wide stops

Risk Level LOW


Tips -

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



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