USDJPY Forecast and Trade setup for the week 22nd April, 2014
Weekly Chart
- We are still stuck in a tight range for nearly 3 months now, however getting close to the ascending trendline, which could provide some support for some action
- My bias still Bullish
Daily Chart
- We had a continous bullish days last week, where we have broken slightly resistance,
- Today's candle is showing some bearish price action, but this could be a retest of the breakout zone / retest support before continuation to the upside
- Note there is the ichimoku clouds which could give some resistance
- Bias is bullish since we have broken the descending trendline, and had retested the bottom and rejected also from an long term ascending trendline.
Hourly Chart
- Although we have broken resistance, and trading majority in the s/r zone, I believe what is stopping the bullish momentum is the Monthly pivot, and confluence of the 50% fib and the clouds.
- Having the strong resistance, it could be possible for price to pull back and reload again to the upside to break it.
Outlook Trade opportunity
If price pull back, could look at Price action candle bullish pattern at good fib levels / kumo clouds
Risk Level Med
Tips -
Always take note of any economical news event on our provided calender below
AUDUSD Forecast and Trade Setup for the week 22th April, 2014
- Bearish Trend continuation? (Correction over?)
Weekly Chart
- As anticipated on the previous weekly forecast, we have continued to reject from the Clouds/ Fib level 38.20
- Last weeks candle wiped off just over half of the previous bullish candle
Daily Chart
- Last week we had a two huge bearish days, however yesterday (Monday) we have a slightly bullish doji?
- Stochastic is also in oversold and turning and perhaps we might retrace and retest the resistance
Hourly Chart
- Above I have two charts, one with the Ichimoku and one without
- We broke slighly below the Ichimoku Clouds, and now trading in the clouds where i will look for hourly / 4hrly shooting star formation from the zone.
Hourly Chart
- There is a potential Cypher pattern if price goes up to 78.5% fib which is a good confluence of weekly R1 pivot and Resistance yellow zone on my chart.
- There is also other ways to look at it if you draw two sets of fibs and there good confluence levels to look for short opportunity.
Outlook Trade opportunity
As above in Hourly chart / or perhaps a potential Cypher
Risk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
USDCHF Forecast for the week 22nd April, 2014
- Bullish Cypher still in play
Weekly Chart
- Last weeks price action was bullish and we recovered nearly half of the sell off of the previous wk prior
Daily Chart
- We had continuous bullish price action daily candles
- Broke through resistance, however nearing another minor resistance
- We are also trading in the ichimoku clouds and Stochastic is trading in a overbought zone
Hourly Chart
- As you could see the bullish cypher identified over a week ago did play out quite well
- This is a 4 Hourly chart, where we have broken through the Ichimoku clouds, however we are in an area of potential resistance (yellow zone) and market could retrace to the downside to test the support zone in the following days.
- We are also travelling on the upper line of the ascending channel.,
Outlook Trade opportunity
We could take a short if a convincing hourly / 4hr shooting star candle is rejected from the yellow zone.
If market does test the support, we could wait for a bullish hammer formation to continue the up trend
Risk Level Low
Tips -
Always take note of any economical news event on our provided calender below
