NZDUSD Forecast and Trade Setup for the week ending 27th June, 2014
Daily Chart
Very bullish price reaction from 0.84 level which is also a previous broken major resistance which now becomes support
Note that we are trading into previous highs and close to 0.88 level which is also a major resistance
Hourly Chart
There is MACD negative divergence here , so a short trade is good with last 4H candle showing rejection from the minor resistance after breaking support
Stops above the highs from last week
The other is the long trade from the fib confluence of 50 fib, and 38.2 fib + 141.4 fib external extension
*note pivots are from last week, so will wait and see the pivots when market opens on monday. - if a pivot point falls into the confluence area then it makes the case for a long trade an extremely high reversal zone
Outlook Trade opportunity
Potential Two trades here, we can short this at open on monday with stops above last week's high, and target a 1:1 - this is because the MACD negative divergence and the low risk trade The other is wait for price to retrace to 0.860 / Fib confluence level for a LONG trade
Risk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
USDCHF Forecast and Trade Setup for the week ending 27th June, 2014
Daily Chart
Last week fell and rebounded from the support level and produced a Hammer Candle
MACD is still in bullish territory however lines as crossed
If prices were to break current support, our next support is at the Monthly Pivot which is also a strong support where it will be a top bottom trade setup
Hourly Chart
Zooming into an hourly chart, we can see that prices bounced off the support
If prices do retrace more it would be good to go long
15 Min Chart
Looking at a 15 minute chart, i am looking at a potential trade off a confluence of three fibs as shown on the chart.
Outlook Trade opportunity
Look at 15 min chart
Risk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
AUDUSD forecast and trade setup for the week ending 27th June, 2014
Daily Chart
Flag formation type pattern with price breaking to the upside potential
Last week we produce a bullish engulfing candle hinting more upside is to come potentially breaking current resistance
MACD is in bullish territory
Hourly Chart
Very bullish price action last week so if price retrace to the confluence level (0.93650) 61.8 fib and 161.8 fib extension we could initiate a long position when looking on an H1 / 15min chart
Note this weeks pivot has not reflect on the charts at time of posting, so if a weekly pivot or daily pivot falls in the same area, it will build a stronger case
This area is also a top bottom / (previous resistance) on an H1 chart
Outlook Trade opportunity
As per Hourly chart -
Risk Level Low
Tips -
Always take note of any economical news event on our provided calender below
