AUDUSD Forecast and Trade Setup for the week 06.05.14

AUDUSD Forecast and Trade Setup for the week 06.05.14

Daily Chart

• We continue to see bullish momentum after it was trading flirting around the 92-93 area which also was the bottom trendline of the up channel
• If new highs was to perform, my daily chart has indicated the potential resistance zone

Hourly Chart

• After a performing highs at the 0.94 we were in a small down channel where we had three lows swing movement
• significant break of the descending channel and also break of bearish clouds shows a pretty bullish AUD Strength
• I would be buying dips to test the 0.94

Outlook Trade opportunity

Buying dips before reaching 0.94 + potential setup for short above 0.94 (As shown on h4 chart)

Risk Level __

Tips -

Always take note of any economical news event on our provided calender below

Holiday notice

Hi traders! I will be on holiday until end of nxt week so most likely i wont be updating my blog unless i spot something really exciting

I will be going down to sydney so any traders wanting to catch up for a coffee please facebook message me!

Safe trading