AUDUSD Daily and Weekly Forecast for 7th January 2014 (Tuesday)

AUDUSD Daily and Weekly Forecast for 7th January 2014 (Tuesday)

Daily Chart

• We have been getting higher lows and higher highs in this corrective move
• Trend is Bearish
• Currently Stochastic is diverging, however RSI still going up and is below 50

Our forecast is for the Aussie to go up to 0.90300 before continuing down creating new lows.

Hourly Chart (4h chart)

• Last few days is showing an up trend
• Currently Stochastic is diverging
• We believe we have one more push (completion of b-c leg, before the C-D leg down)

Outlook Trade opportunity

#1 Long setup opportunity with a low risk high reward - Please see 4h chart for trade recommendation

#2 Short setup - Please see 4hr chart for trade recommendation

Risk Level LOW

Tips -

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

EURUSD Daily Outlook for 6th January, 2013 (MONDAY)

EURUSD Daily Outlook for 6th January, 2013 (MONDAY)

Daily Chart

• Bearish momentum is very strong from Friday, as we broke major support
• We expect the market to stall at the 1.349-1.35 level which is a strong support.  
• Until then, any intraday trades should be taken short

Hourly Chart

4 hour chart shows a more clearer picture

• Strong bearish momentum , as market tries to test the 1.349-1.35 - psychological and confluence of fib levels
• I have a short trade targeting the closest area i have drawn on the chart, and tp2 the second.

Outlook Trade opportunity

Currently I have a short order targeting the First level. Any retest of support , should be a good opportunity to take a short order (See Red Arrows on H4 chart)

- Please see Red and Blue Arrows for trade opportunity on the H4 CHart

Risk Level LOW

Tips -

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