$AUDUSD Midweek Update -Possible 3:1 Reward to Risk - 18th Feb, 2015

$AUDUSD Midweek Update -Possible 3:1 Reward to Risk - 18th Feb, 2015

Daily Chart

• Tuesdays Piercing Line Daily Candle pattern - Bullish sign
• Closing price was the highest for the current month
• Ichimoku Kijun-sen is flat - which usually indicates that price should attract near or to that level

Hourly Chart

• 4hr Ichimoku clouds broken - A sign that a change of trend to the upside.
• Any pull back in the coming days if we are still in this range, the support should be found at the weekly pivot / 38.2 fib

Outlook Trade opportunity

For late comers or accumulation - Any pullback towards the 38.20 fib / Cloud retest / Weekly PIvot targetting 0.80-.81 area is possible giving around 3:1 risk reward.

Risk Level Low

Tips -

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