NZDUSD Trade Forecast and Trade Setup for 1st August, 2014
Daily Chart
Doji type candle formation yesterday, and the day before
Ascending Trendline
78.6 and support
Weekly S1 pivot
Hourly Chart
Positive Stochastics Divergence on H4
Outlook Trade opportunity
Buy Stop above my yellow support zone would be ideal, and stops below this weeks low. Or you could wait until it performs a higher high on an h4 / h1 chart looking for near 0.86
Risk Level Medium- High
Tips -
Always take note of any economical news event on our provided calender below
AUDUSD Forecast and Trade Setup for 1st August, 2014
Daily Chart
Bullish Cypher
Approaching 78.6 fib and support (on a H4 TF)
note support is not huge, on the daily tf, however
Possible bounce here as it could be a retest of the broken descending trendline
On the H1 TF - there is positive divergence on Stochastics, MACD, and RSI
Outlook Trade opportunity
Drill down to a H4 Timeframe for a bullish candle pattern for a long trade as the selling momentum is quite strong, and with the NFP tonight, a on par or slightly positive data would make the aussie fall even further to the daily chart support
Risk Level HIGH
Tips -
Always take note of any economical news event on our provided calender below
Doji Candle from the 88.6 / resistance zone (note its also a 38.2 on a weekly chart)
Also the upper band of the bullish channel
Weekly Chart
Outlook Trade opportunity
Being a friday and NFP in 12 hrs time, I would have wide stops and a smaller position if i had to trade this (counter trend) and target the bottom of the upward channel
Risk Level Medium
Tips -
Always take note of any economical news event on our provided calender below
