GBPAUD Forecast for the week 23rd April, 2014
Weekly Chart
- On the weekly, we are flirting around s/r / 1.80 level
- Of the most recent bullish swing, we have held at the 50% retrace and would like price action to break back up above the 1.80 level for continuation up towards1.9-2.0
Daily Chart
- We are trading in a descending Chanel , however with the fib expansions of the high to low swing , we have hit the FE100 level which also has a confluence of a ascending trend line
- We have some strong resistance where we have a 38.2 and 50 overlapping fib at 1.830
- below that we have the monthly pivot and the descending channel line
Hourly Chart
- We need a clear break above 1.830 before any long position
Outlook Trade opportunity
- We need a clear break above 1.830 before any long position
Risk Level Medium
Tips -
Always take note of any economical news event on our provided calender below
USDCAD Forecast for the week 23rd April, 2014
Weekly Chart
- After the Hammer formation candle, as expected we saw last week have some bullish momentum
Daily Chart
- We saw continued bullish momentum last week , however past few days we are seeing seeing doji's / indecision from price action
- Having said that, yesterdays doji's body did actually close above minor resistance which should now become support however next resistance is near, so i expect some sort of rejection back towards the pink zone support before taking another leg up
Hourly Chart
- Broke through resistance, and looking on towards testing the next resistance
Outlook Trade opportunity
Long preferred
Risk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
