AUDUSD Forecast and Trade Setup for the week ending 15th August, 2014

AUDUSD Forecast and Trade Setup for the week ending 15th August, 2014

Weekly Chart

• Negative Divergence on the stochastic from minor resistance on weekly chart
• Following a shooting star pattern, we followed with a lower low last week confirming possible bearish near term
• Ichimoku Clouds are turning into a bullish forecast (not shown on chart above)

Daily Chart

• Huge bearish engulfing day on thursday

• Small Pin bar candle (small compared the previous huge engulfing)

• Bearish Forecast with ichimoku clouds turning
• RSI is negative

• Note next major support is a good place to buy

Hourly Chart

• Clearly Rejected the clouds and Resistance
• Bearish outlook still
• Slight MACD position Divergence

Outlook Trade opportunity

Possible Scalps to the long side could be on the cards as there are price action confirmation from a fib support level, , and with the H4 Positive Divergence on the MACD, gives it just enough of a reason to look for long scalp trades.
On the other hand, Day Trades could wait for price to retrace to confluence fib /pivots and price action to react to enter to the short side targeting the next support

Risk Level MEDIUM

Tips -

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

EURUSD Forecast and Trade setup for the week ending 15th August, 2014

EURUSD Forecast and Trade setup for the week ending 15th August, 2014

Weekly Chart

• Slight Positive Divergence on stochastic
• Pin bar candle
• note from a 1.34 figure level and support level
• Clouds in Bullish View

Daily Chart

•  Positive Divergence on Stochastic setting up nicely
• Friday Candle is Bullish Engulfing 
• Note resistance is shown in Green where sell signals could start to play
• Clouds are in bearish view

• More comfortable taking a long from the next support
• Completes a AB=CD
• 61.8 fib

Hourly Chart

• At the bearish clouds and resistance zone on a Daily TF (note this range is quite wide so we might have a range play?)
• Positive Divergence on stochastics and MACD
• Rising RSI

• Bullish forecast on the Clouds
• Rising MACD
• RSI is Bullish

Outlook Trade opportunity

So the only timeframe chart which shows a bearish view will be the Daily, all the others (Weekly, H1 and H4) all points bullish, So would be interested to go for a long trade and close out before Thursdays GDP and CPI releases

Tips -

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

GBPUSD Forecast and Trade Setup for the week ending 15th August, 2014

GBPUSD Forecast and Trade Setup for the week ending 15th August, 2014

Weekly Chart

• Trading Below the Kijun-sen after rejecting from weekly resistance zone

• Clouds indicating a bullish forecast still

Daily Chart

• Broke Clouds and Bearish Cloud outlook 
• RSI is trading below 50 
• Stochastic is in oversold and still pointing south

• We are approaching support and fib levels, however my bias is that it could not hold, due to the very strong momentum 
• We also broke the wedge trendline

• Bullish Cypher pattern is identified (PRZ Zone could be wider than usual)
• At fib 78.6 and 127.6
• 200SMA (not shown on chart)
• Ascending Trendline as shown on the chart previous

Outlook Trade opportunity

Note We have Wednesdays Carney's speech and Fridays GDP from the UK,

At this stage, only interested in taking short positions from resistance however, some minor retrace is anticipated early in the week. Only till when price reaches my PRZ / BUY zone that i shall look for signals to go long

Risk Level .... n/a

Tips -

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

USDCHF Forecast and Trade Setup for the week ending 15th August, 2014

USDCHF Forecast and Trade Setup for the week ending 15th August, 2014

Following my forecast from the 1st of August of my bearish view of this pair, Now a week later, the market had given extremely good signals to confirm that the trend may shift to the downside in the near term.,

Weekly Chart

• Stochastic Negative Divergence
• Exhaustion Candle rejection from weekly resistance zone and 38.20 fib

Daily Chart

• Stochastic Crossed over and pointing south
• MACD Crossed Over
• Exhaustion Candles with continuous wicks / and also from the upper channel trendline

• Bearish Harmonic Bat Pattern completing at 88.6 / Resistance zone and which is also a inverse previous swing fib ext of 161.8
• Candle Closed below Tenken-san line (Red line) for the first time since the bullish run

Hourly Chart

• Performed a lower low while breaking resistance
• 30 and 50 SMA crossed
• Negative divergence with RSI under the 50

• Clouds forecast changed to bearish
• Positive Divergence on stochastics - which could be ignored

Outlook Trade opportunity

Clearly we have tons of bearish points (In red) and only one bullish points (in blue), therefore, if your not already in a trade, I would look for price to retrace to a 38.20 fib and look for price action (engulfing/exhaustion/doji etc candle) to take a short position.

Risk Level LOW

Tips -

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