DXY US Dollar Index for the week 10th March, 2014

DXY US Dollar Index for the week 10th March, 2014

Daily Chart

• From the weekly to the Daily Chart, the US Dollar looks very heavy
• Fridays Candle indicates a some indecision.
• My bias is that we may best the December's Low 

AUDUSD Forecast and Trade Setup for the week 10th March, 2014

AUDUSD Forecast and Trade Setup for the week 10th March, 2014

Weekly Chart

• The Ichimoku line is flat suggesting price is likely to attract there (ie. bullish)
• however the stoch's indicator has crossed crossed

Daily Chart

 

• We finally have broken out of the Daily Ichimoku Clouds and managed to close two days above it.
• Stochastics is also crossing suggesting overbought scenario
• You will see that i have a potential Cypher pattern at around the 0.93 handle

Hourly Chart

Friday i identified potential Bullish cypher on the 15min chart 

• Today I would be looking for reaction on the 38.2% and 50% fib level for price action to react from those areas looking for continuation to the upside
• at the 38.20% fib, there is the daily s1 pivot confluence
• If we travel more south, the 50% is at few pips below Daily S2 pivot and few pips below the 23.6% fib of the Low to last weeks high.
• We also have the weekly pivot approx 10-15pips below the 38.20 fib level (not shown on chart)

Outlook Trade opportunity

- Hourly Chart
- Possible cypher identified last friday

Risk Level LOW

Tips -

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