AUDUSD - Weekly Forecast and Trade Setup for week ending 3rd of July, 2015
Weekly Chart
- The week ended negative, closing at the lows of the week prior. With the bearish momentum, I would not be suprised for continuation and breaking recent lows (this would be the fourth touch if so)
- Ichimoku - Bearish
Daily Chart
- Candles for the whole week has been closing below the kijun and tekan line, pointing to a weak aussie.
- Friday's candle has given a hint of trend continuation to the downside
- Ichimoku - Bearish
4 Hourly Chart
- Very clear 4hr candle breaking the trendline and also support
- The yearly low / Support of 0.755 - My view will be easily broken due to earlier this year it had been tested three times, which means most buy orders had been filled - hence a very weak level.
- Perhaps new lows in the coming week or two?
Outlook Trade opportunity
My short term trade idea from last week (of bullish), had failed. However for the longer term trade idea, this is working in favor so far.
Short term i am aiming for 0.7600 as i have opend a short trade last friday
Long term - target 0.70-0.72 (50% fib retrace of the decade)
Risk Level __
Tips -
Always take note of any economical news event on our provided calender below
Hello readers!
Sorry I haven't been able to update my blog for two months now.
Since Feb this year, I have decided to step into real estate, and had been busy since! The next 12 months is going to be a very exciting time for me as a realtor. This is something I've always wanted to do !
As much as I like real estate, my passion for trading never ends! - I haven't stopped trading! And i've had my best returns in the past 6 months.
I will be keeping my blog live and updated as often I can !
Happy trading and be good!
Regards,
Saturday 20th June, 2015
AUDUSD - Weekly Forecast and Trade Setup - Week ending 26th of June, 2015
Monthly Chart
- Nothing major have happened after breaking major support in January.
- RSI - is flurting around the 30' level
- nb - june candle not complete
- Ichimoku - Bearish
Weekly Chart
- Price did retrace / retest the breakout level and pushed prices all the way to the lows
- Tekan and Kinjun lines are starting to narrow and is possible another attempt towards the 79-80 area is possible.
- RSI is strenghtening
- Ichimoku - Bearish
Daily Chart
- Although prices are still below the clouds, prices are now trading above the Tenkan Sen (blue line), If it continues to hold / acting as support, - this would be aisngs that a potential test towards the strong resistance at the 80c is coming
4 Hourly Chart
- From the price action and break of the triangle? and second break of the ichimoku clouds - My bias would be towards the long side.
- I would aim for 0.78700 area as the first target.
Outlook Trade opportunity
Based on the 4hr chart, I would have a short term trade (intraweek) to the longside with target to the .78700 as first target, and if this breaks and hold, would aim for 0.795-0.80
Long term view - still bearish. so if your a long term trader, I shall wait for this retrace to finish and enter a short towards the 0.70
Tips -
Always take note of any economical news event on our provided calender below
