USDCHF Forecast and Trade setup for the week ending 5th September, 2014
- I was wrong last week where I was monitoring this pair trying to top pick it
- I did not understand or identify the price action where it was travelling inside the resistance zone where previously we only see daily wicks , however we saw the body of the candles and was in the range for a few days. I also did not drill down a lower timeframe and look closely at my support and resistance zones.
Monthly Chart
Weekly Chart
Daily Chart
Outlook Trade opportunity
Looking for Long scalps towards next resistance
Risk Level low
Tips -
Always take note of any economical news event on our provided calender below
EURAUD Forecast and Trade setup for the week ending 5th September, 2014
- On the watch list for possible break of support and ride it down
Monthly Chart
- Monthly Candle - Bearish
- Nearing Possible support perhaps?
Weekly Chart
- Weekly Candle - Bearish
- Trading below 50EMA
Daily Chart
- Daily Chart has a cleaner S/R , to me, further weakness is favorable due to the candle closing at its lows at support. I would look for a break and retest and target to the mid point and trail to the next support after.
Hourly Chart
- Price is staying very condensed in the s/r zone and with no signs of reversal. I would look for a significant break of support and sell into that (as per my comments on daily)
- It is to note that there is RSI Divergence on the H4
Outlook Trade opportunity
Favor the downside on this pair, looking for price to break support convincingly and look for an opportunity to short it and ride towards the mid point of 2013 and trail to the next support after.
Risk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
