AUDUSD Forecast and Trade Setup Levels to watch - Monday 7th July , 2014
Weekly Chart
- Note that we have negative divergence on stochastics
Daily Chart
- We have had two huge negative days and with Thursday wiping off the gains from last week
- I have noted the two scenarios - If support holds i believe a retrace to test the 0.94's is possible before further selling pressure
- If we break the support with ease, i'll look for pull back of broken support to ride it down to next support level
Hourly Chart
- We may start the week trying to retrace some of the losses last week, therefore i have noted the Resistance zone for possible short orders in green (which is also the pivot and 38.2 fib
Trend Filter Table
|
Trend Filter
|
Daily
|
H4
|
H1
|
|
3 MA Cross
|
Bullish (however 30 and
50 is close)
|
Bearish (have not crossed but pointing south)
|
Bearish
|
|
30SMA
|
Below
|
Below
|
Above
|
|
50SMA
|
Holding
|
Below
|
Below
|
|
100SMA
|
Above
|
Below
|
Below
|
|
Ichimoku
|
Bullish
|
Bearish
|
Bearish
|
|
SCORE
|
1/5
Bearish
|
5/5
Bearish
|
4/5
Bearish
|
