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 0.795-0.80Long 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
