Friday, June 27, 2014

AUDNZD Forecast and Trade Setup for the week Ending 4th July, 2014

AUDNZD Forecast and Trade Setup for the week Ending 4th July, 2014


Daily Chart


  • Identified a possible Cypher Pattern - When prices do get there, will need to re-evaluate as the setup is not ideal with tight range of resistance.
  • Yesterday Candle broke the support and Today would look for retest to perhaps join the bearish momentum

Hourly Chart



  • Support has been broken however it still could be a false break as it was quite deep and a bullish engulfing pattern, (however has not closed above the broken support which now is resistance
  • Will zoom into a 1hr / 15min chart for entry to the short side if were to trade this


Trend Table


Outlook Trade opportunity

Please see Hourly

Risk Level Medium to High


Tips -

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



EURAUD Forecast and Trade setup for the Week Ending 4th July , 2014

EURAUD Forecast and Trade setup for the Week Ending 4th July , 2014


Daily Chart



  • A believe that there is one more swing low which could be the third drive
  • Minor support had been broken which could indicate further downside
  • Note next major support is at the 1.40 level

Hourly Chart



  • As per Daily chart, it shows to me that we have broken the minor support
  • Break of the trendline could potentially head down further to 1.41-1.40


Trend Filter Chart
Trend Filter
Daily
H4
H1
3 MA Cross
Bearish
Slightly Bearish
30 crossed 50
30SMA
Below
Below
Below
50SMA
Below
Below
Below
100SMA
Below
Below
Below
Ichimoku
Bearish
Bearish
Bearish
SCORE
5/5
5/5
5/5
Verdict – Perhaps only short trade is ideal while all Time Frames is pointing strongly bearish

Notes – Approaching 1.40 – 1.41 is where next major Support is.

Outlook Trade opportunity

Short trade after break of the trend line on H4

Risk Level Medium


Tips -

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