EURAUD Forecast and Trade setup for the week ending 5th September, 2014
- On the watch list for possible break of support and ride it down
Monthly Chart
- Monthly Candle - Bearish
- Nearing Possible support perhaps?
Weekly Chart
- Weekly Candle - Bearish
- Trading below 50EMA
Daily Chart
- Daily Chart has a cleaner S/R , to me, further weakness is favorable due to the candle closing at its lows at support. I would look for a break and retest and target to the mid point and trail to the next support after.
Hourly Chart
- Price is staying very condensed in the s/r zone and with no signs of reversal. I would look for a significant break of support and sell into that (as per my comments on daily)
- It is to note that there is RSI Divergence on the H4
Outlook Trade opportunity
Favor the downside on this pair, looking for price to break support convincingly and look for an opportunity to short it and ride towards the mid point of 2013 and trail to the next support after.
Risk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
USDCHF - Trade setup - Cypher pattern
Hourly Chart
Outlook Trade opportunity
I have been monitoring this pair for the whole week, as it reach potential resistance. With the market condition favouring a dollar correction
here is a good area to sell this pair is at the 78.6 - (cypher pattern), and looking towards 0.91
Risk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
