XAUUSD GOLD Forecast and Trade setup for 20th January, 2015

XAUUSD GOLD Forecast and Trade setup for 20th January, 2015

Potential Bearish Cypher pattern completing at 1290-1300 resistance level

Daily Chart

For gold, My targets of 1290 have been achieved from my analysis from earlier this year. So right now we are seeing a small rejection from the 61.8 fib and 127.2 inverted fib. The 78.6 fib for Cypher to complete is at 1298 to be exact so we may see failing rally to attempt to break the 1300 levels.

• Cypher pattern completing at the 1298 (78.6 fib)
• Bearish Trendline also at that zone
• Monthly and Weekly Charts are in Bearish Ichimoku Technicals
• 1300 round number acting as good resistance
• Could be risky selling into it, because of a very strong bullish run

Outlook Trade opportunity

So this is how I would trade - Since its been in a very strong bullish run, I shall be looking for another rally towards the 1298-1300 which i predict could possibly be a failed rally. I'll look for Rejection Price action candles on a H4, and once confirm would enter a short, with stops above the failed rally .

I would classify this trade to be a higher risk due to the bullish run, and also where the zone is located where the risk :reward won't be stacking up in our favour

Risk Level High

Tips -

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

AUDUSD Forecast and trade setup / update for 15th January, 2015

AUDUSD Forecast and trade setup / update for 15th January, 2015

Following last Friday's analysis on the AUDUSD, it has played in my favour, and here is an update of how its travelling so far

Daily Chart

• Hammer candle pattern from yesterdays daily close

Hourly Chart

• After the first inditial Cloud break identified last friday, yesterday the market tried to break the lows and failed.
• The 78.6 fib and cloud acting as strong support giving a h4 bullish engulfing pattern.
• Earlier today in asia, after the numbers from Australia employment figures, market has jumped 60pips on the first 15min candle and closed at the highs.  

Outlook Trade opportunity

long for intraday / short term trades, - near term resistance are the highs at 0.825. however my technical tells me it will break those highs and test 0.832-0.835 .

This is my second long trade for the week for this pair as a intraweek swing

Risk Level Low

Tips -

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