AUDUSD Forecast and Trade Setup for the week ending 22nd August, 2014
Weekly Chart
- Continued to see weakness in RSI and Stochastics
Daily Chart
- Positive Divergence to the RSI
- MACD is showing weakness
Hourly Chart
- Rising RSI, however is diverging
Outlook Trade opportunity
If today closes above 0.93350, possible run up to test close to the 0.94s before looking for short opportunity at the Cypher completion
Risk Level __
Tips -
Always take note of any economical news event on our provided calender below
NZJPY Forecast and Trade Setup for the week ending 19th August, 2014
Monthly Chart
Weekly Chart
- Could be a double top for the year
- RSI is loosing momentum
Daily Chart
- Bounced of support with 200SMA, however nearest term resistance is holding
Hourly Chart
- Selling momentum is still very strong (just look at the chart with the straight verticle bars down, but on retraces are very choppy and hesitant. - this tells me, sellers are still in control.
Outlook Trade opportunity
Last week we had a good opportunity to short the market and benefited from it, for now, we would watch closely until market tells us or short scalps opportunity on rallies.
Risk Level __
Tips -
Always take note of any economical news event on our provided calender below
