AUDUSD - Weekly Update - 17th - 21st August, 2015

AUDUSD - Weekly Update - 17th - 21st August, 2015

Weekly Chart

• Bullish Candle formation although still closed below the highs of last week, however quite near the top
• The week prior I was calling out for long opportunity, although I got stopped out from the sudden Yuan devalue, due to the rebound, I have resumed my bullish outlook for the short term

Outlook Trade opportunity

Still looking for long opportunity, a daily close above 0.74 will be required, and will target around the 0.75

Risk Level __

Tips -

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

AUDUSD - Forecast and Trade Setup for August, 2015

AUDUSD - Forecast and Trade Setup for August, 2015

Weekly Chart

• Last weeks candle shows bullish action from a significant level / support
• Previous Support 
• 50% Fib from last decades move
• 261.8 fib ext of last years range
• Ascending trendline (From monthly)

Daily Chart

• Daily Candle from Tuesday managed to close above the Tekan- Sen

Hourly Chart

• H4 - Broke through bearish Ichimoku Clouds
• Forecast is bullish clouds

Outlook Trade opportunity

Near term momentum is on the bullish side - From my previous post, i have suggested to look for long opportunity at the strong support level. I will be targetting approx the 0.74800 as a partial take profit, and perhaps aiming for even the 0.75-759

For this week
I would suggest to wait for price action to break and stay above 0.743 and look for continuation

Risk Level Low

Tips -

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