Tuesday, June 17, 2014

AUDUSD Forecast and Trade Setup for the week ending 20th June, 2014

AUDUSD Forecast and Trade Setup for the week ending 20th June, 2014

Weekly Chart



  • Bullish Momentum is weakening with the Kijun-sen line confirming.
    • It is also reacting from 38.2 fib level and minor resistance zone

Daily Chart


  • From the Daily price action we can see that there is some resistance from the 38.2 fib level, and that we are attempting for the third time this year.
    • If i calculate fib expansions from the swing from March to april, a FE61.8 is at the confluence level of 78.6 (Pink box on chart)
      • That means It won't be suprising to see prices breach current resistance and test the 0.95 before a bigger retrace to low 90 levels

Hourly Chart


  • Broke bearish trendline on the H4 chart
    • Support could be found at the monthly pivot / 0.93 figure level / external of the broken bearish trendline

Below are two charts to identify the trend for Day trades / scalps (H1 and H4 Charts)
H1 - is Bearish
H4 - is Bullish





Outlook Trade opportunity

For Scalps to short till 0.93

Intraweek / medium hold trades to wait for opportunity to go Long towards 0.95 perhaps

Risk Level LOW - Medium


Tips -

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