XAUUSD GOLD Forecast and Trade Idea for January 2015

XAUUSD GOLD Forecast and Trade Idea for January 2015

Sorry using charts from Trading view without my support levels

Monthly Chart

• Ichimoku Break on the Monthly is a strong indication that further weaknesses is expected in the long term view

Weekly Chart

• Weekly is showing some exhaustion in selling, as buyers a coming back in
• Any closes above the 1200, is a good indication that buyers are in control and I shall be targeting around the 1280-90 as the potential area where sellers will jump back in for new lows

Daily Chart

• We identified the Ichimoku break on the daily chart, so we may see a correction

Outlook Trade opportunity

At these levels, and because of the Daily buy signal, for short to medium term trade, I would suggest taking Longs with targets around initially 1250 then on towards 1280-90.

Would short at 1280-90 if it gets there targetting near lows and possibly continued further losses onto new lows

Risk Level __

Tips -

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

AUDUSD Forecast and Trade Idea for January 2015 -

AUDUSD Forecast and Trade Idea for January 2015 -

Trading currently in a very important support zone - and if it holds, Its very good for a counter trend trade because something which is NOT on the Aussie chart... .. read on

Monthly Chart

• As you can see the Ichimoku Clouds have been broken on the Monthly, which usually is a good indication of the long term view of the continued weakness of the Aussie Dollar.
• However even though it broke the clouds, we must not ignore the most simple fact of charting as we see a very important Support zone (above 0.79), so until it breaks and close with conviction , then we can seek opportunity to trade with the trend towards lower levels as a long term trade

Weekly Chart

• Take note of the break BELOW of the Lower descending Channel line, which is extremely bearish, but again, only break of the 0.79 handle could we see further losses.

Daily Chart

• Zoomed in the daily with the support zone
• Not surprisingly there are buyers in here which does give the RSI some positive divergence

Outlook Trade opportunity

Given the fact that we are at a very major level here on all time frames, its a good area to get in long for a counter. However, what i said as the opener of this analysis, there is a hint which i got NOT from the Aussie CHart, but from the GOLD chart.

Gold chart - Daily TF - we have a classic Ichimoku trend reversal trade which usually is correlated with the Aussie. So therefore i do believe a Long trade for the short - medium term is playable!

Risk Level - Medium to High

Tips -

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