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 -
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