AUDUSD Trade Setup and Forecast for 30th March to 3rd April, 2015
Last analysis from the 16th of March, I have indicated that there was a false break, so going on a bias to the upside. This had played in my favour, but where to from now?
Weekly Chart
- Last week candle looks like a shooting star formation
- however the previous candle was a relatively bullish pattern which
- RSI is above 30
- On the weekly, seems heavy and obvious downtrend on the bigger picture
Daily Chart
- After RSI positive divergence, we can see that the markets is on steps higher, however now that we are trading in the clouds and did have some rejection, we may retest the lows or a fib 61.8 before attempting a shot higher?
4 Hourly Chart
- On the 4hr chart, ichimoku trend is up
- As long as the lows don't break, or perhaps holding at the pivot, i still see another high coming
Outlook Trade opportunity
Personally, i believe we are on a shot to test the 0.80, I am still long
Risk Level __
Tips -
Always take note of any economical news event on our provided calender below
AUDUSD Trade setup and Forecast for the week 16th March, 2015
Comments from Last week Analysis:
Last week the aussie gave us new lows and broke support, this quickly regained back above broken support and had a daily close above. From my previous weeks trades This had stopped out on my long trade which was targetting 0.795.
Weekly Chart
- Looks heavy, however, RSI is showing very slight divergence
Daily Chart
- If you zoom into Thursday's candle, it has a huge bullish candle recovering previous two days losses
- This also reacted to me as a false break and also holding by the Weekly S2
- And also a 127.2 fib extension
- RSI positive divergence
4 Hour Chart
- I shall be taking a long if i see a break on the trendline / ichimoku clouds to the upside
- Taking long opportunity because of the Thursday false break giving a big bullish candle
Outlook Trade opportunity
For bulls : - Take long either at the break of trendline or ichimoku to the upside
For Bears : If last weeks lows break and close below, happy to take short targetting 0.735 approx
Risk Level - Medium
Tips -
Always take note of any economical news event on our provided calender below
