USDCHF Forecast and Trade Setup For the week 26th May, 2014

USDCHF Forecast and Trade Setup For the week 26th May, 2014

Weekly Chart

• We have continued the bullish momentum last week after rejection from the Monthly Pivot Support few wks ago
• Ichimoku Study - Bearish 

Daily Chart

• After flirting around the Resistance area, we managed to break through it.  Any retest should perform a bullish candle setup signal on a smaller timeframe
• I have put in another chart with 3 Moving Averages Study, 
• Note that we are hitting against the 200 Day Moving Average and very close to next resistance
• I have drawn in some projections on the Daily chart but only vaguely.  
• Taking a short is against the strong trend
• Taking a long now - we are hitting resistance soon / and 200MA is hitting right now
• Ichimoku Study - Bullish

Hourly Chart

• Very strong bullish run, where now we will wait for retrace to the broken resistance which should become support together with the ichimoku clouds

Outlook Trade opportunity

Would be interested for a retest of the broken resistance which now should become support., Placing stops on the immediate previous swing low

Risk Level MED - HIGH

Tips -

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

EURUSD Forecast and Trade Setup for the week 26th May, 2014

EURUSD Forecast and Trade Setup for the week 26th May, 2014

Weekly Chart

• The three weekly candles are extremely bearish and closed last week breaking the ascending trendline
• There is Negative Divergence on the stochastic
• Ichimoku Study - Trading above the clouds

Daily Chart

• We have saw price flirt around the Support and Resistance zone / Ascending Trendline and was unable to stay above , therefore it is likely the market will test the next support zone.
• Saying that it would be ideal to sell on pull backs
• Ichimoku Study - Bearish (trading below clouds)

Hourly Chart

• The H4 chart shows that the basically we were trading in a very tight range last week, and by friday has failed to stay above .
• If market gives us a pull back scenario, I would be interested to sell (please see the blue zone on H4 Chart)
• Ichimoku Clouds - Bearish (trading below Clouds)

Outlook Trade opportunity

Short trades preferred - See H4 Chart and also Daily Chart

Risk Level LOW

Tips -

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

Usdjpy

Selling at 102 (200ma on h4) / 78.6 fib

AUDUSD Forecast and Trade Setup for the week 26th May, 2014

AUDUSD Forecast and Trade Setup for the week 26th May, 2014

Weekly Chart

• Based on the Ichimoku Clouds, we saw a strong bearish reaction as market tried to retest the highs / clouds (acting as resistance)

Daily Chart

• On the Daily Chart, I have not used the clouds however we are trading into the clouds (possibly acting as support)
• We broke out of the bullish Channel and formed a Double top
• Have drawn a descending trendline from the Oct 2013 highs
• This could possibly it for the bullish trend, and could possibly continue the bearish run

Hourly Chart

• We have had a significant sell off on the Aussie last week, and with the analysis from the other higher time frames, It would be wise to sell any pull backs

Outlook Trade opportunity

Short order at the Resistance / monthly pivot zone

Risk Level LOW

Tips -

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

USDJPY Forecast and Trade Setup for the week 26th May, 2014

USDJPY Forecast and Trade Setup for the week 26th May, 2014

• Possible Bearish Cypher?

Daily Chart

• Last week we have seen a bullish Pin bar candle from an important Support level which had provided some bullish momentum
• there was also a stochastics bullish divergence
• Having said that, I do not like the fact that the support zone has been tested too many times and it does hint to me it will break the support as all the buy has been filled
• we have the Ichimoku clouds and trendline in a strong resistance area which may limit the upside

Hourly Chart

• Using Ichimoku study, on the H4 chart we are trading above the clouds suggesting of a bullish trend.
• should take note that it only broke through a thin ichimoku clouds (which could give a false signal)
• Currently we are flirting around the Support and Resistance zone and if we managed to bypass that to the upside then we may see it retest the 102.50 and which comes with a very strong resistance together with confluence of 88.6/50 fib and monthly pivots and weekly R1 pivots
• If so, this could be a potential bearish cypher (sorry didn't illustrate the chart with the triangles)

Outlook Trade opportunity

Although last week we see a bullish pin bar Daily candle from major support, this support to me is very exhausted.  I would be bias to be on the short side of this pair.I would have a short order around the 102.50 and i also have a scalp trade just around the 102 figure due to a lower timeframe chart setup

Risk Level LOW

Tips -

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