$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
