AUDUSD Trade Setup and Forecast for 30th March to 3rd April, 2015

AUDUSD Trade Setup and Forecast for 30th March to 3rd April, 2015

Last analysis from the 16th of March, I have indicated that there was a false break, so going on a bias to the upside. This had played in my favour, but where to from now?

Weekly Chart

• Last week candle looks like a shooting star formation
• however the previous candle was a relatively bullish pattern which
• RSI is above 30
• On the weekly, seems heavy and obvious downtrend on the bigger picture

Daily Chart

• After RSI positive divergence, we can see that the markets is on steps higher, however now that we are trading in the clouds and did have some rejection, we may retest the lows or a fib 61.8 before attempting a shot higher?

4 Hourly Chart

• On the 4hr chart, ichimoku trend is up
• As long as the lows don't break, or perhaps holding at the pivot, i still see another high coming

Outlook Trade opportunity

Personally, i believe we are on a shot to test the 0.80, I am still long

Risk Level __

Tips -

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