NZDUSD Forecast and Trade Setup for the week ending 27th June, 2014
Daily Chart
- Very bullish price reaction from 0.84 level which is also a previous broken major resistance which now becomes support
- Note that we are trading into previous highs and close to 0.88 level which is also a major resistance
Hourly Chart
- There is MACD negative divergence here , so a short trade is good with last 4H candle showing rejection from the minor resistance after breaking support
- Stops above the highs from last week
- The other is the long trade from the fib confluence of 50 fib, and 38.2 fib + 141.4 fib external extension
- *note pivots are from last week, so will wait and see the pivots when market opens on monday. - if a pivot point falls into the confluence area then it makes the case for a long trade an extremely high reversal zone
Outlook Trade opportunity
Potential Two trades here, we can short this at open on monday with stops above last week's high, and target a 1:1 - this is because the MACD negative divergence and the low risk trade
The other is wait for price to retrace to 0.860 / Fib confluence level for a LONG trade
Risk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
USDCHF Forecast and Trade Setup for the week ending 27th June, 2014
Daily Chart
- Last week fell and rebounded from the support level and produced a Hammer Candle
- MACD is still in bullish territory however lines as crossed
- If prices were to break current support, our next support is at the Monthly Pivot which is also a strong support where it will be a top bottom trade setup
Hourly Chart
- Zooming into an hourly chart, we can see that prices bounced off the support
- If prices do retrace more it would be good to go long
15 Min Chart
- Looking at a 15 minute chart, i am looking at a potential trade off a confluence of three fibs as shown on the chart.
Outlook Trade opportunity
Look at 15 min chart
Risk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
AUDUSD forecast and trade setup for the week ending 27th June, 2014
Daily Chart
- Flag formation type pattern with price breaking to the upside potential
- Last week we produce a bullish engulfing candle hinting more upside is to come potentially breaking current resistance
- MACD is in bullish territory
Hourly Chart
- Very bullish price action last week so if price retrace to the confluence level (0.93650) 61.8 fib and 161.8 fib extension we could initiate a long position when looking on an H1 / 15min chart
- Note this weeks pivot has not reflect on the charts at time of posting, so if a weekly pivot or daily pivot falls in the same area, it will build a stronger case
- This area is also a top bottom / (previous resistance) on an H1 chart
Outlook Trade opportunity
As per Hourly chart -
Risk Level Low
Tips -
Always take note of any economical news event on our provided calender below
