AUDUSD Daily Outlook for the week ending 18th July , 2014
Weekly Chart
- Negative stochastics Divergence still in play as noted last week's analysis
- Last weeks candle was an inside bar
Daily Chart
- Recent Support is still holding quite well (0.93350) after the strong selling from two wks ago. Last week we did try to revisit the highs but a confluence of 61.8 and resistance zone has provided resistance to push down to sub .940
- For this week, i shall look for market to retest the 0.94250-945 for a negative candle to evolve before taking a short.
- Note - The Ichimoku clouds are thin which is a sign where the market could easily break the clouds and start changing the trend
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Trend Filter
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Daily
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H4
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H1
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3 MA Cross
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Bullish
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RANGE
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Range / No trend -
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30SMA
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Above however
30ma is slightly pointing down
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Above
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Above
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50SMA
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Above
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Above
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Above
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100SMA
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Above
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Below
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Above
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Ichimoku
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Bullish
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Bearish
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Bearish
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SCORE
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4/5
Bearish
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2/5
Bearish
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1/5
Bearish
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