USDCHF Forecast and Trade setup for week ending 20.06.14

USDCHF Forecast and Trade setup for week ending 20.06.14

Daily Chart

• We are trading in to resistance zone, however price is quite strong where it is trading in and around it which suggest to me a breakout to the upside is likely
• Target to the pink zone on chart before considering any counter-trend trades

Hourly Chart

• As daily point stated, we are trading into the resistance zone, however momentum has slowed, but unless we break the current swing low / support , my bias is to the upside for this with targets shown on daily chart

Outlook Trade opportunity

Long trades / potential breakout

Risk Level __

Tips -

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

AUDUSD Forecast and Trade Setup for the week ending 20th June, 2014

AUDUSD Forecast and Trade Setup for the week ending 20th June, 2014

Weekly Chart

• Bullish Momentum is weakening with the Kijun-sen line confirming.
• It is also reacting from 38.2 fib level and minor resistance zone

Daily Chart

• From the Daily price action we can see that there is some resistance from the 38.2 fib level, and that we are attempting for the third time this year.
• If i calculate fib expansions from the swing from March to april, a FE61.8 is at the confluence level of 78.6 (Pink box on chart)
• That means It won't be suprising to see prices breach current resistance and test the 0.95 before a bigger retrace to low 90 levels

Hourly Chart

• Broke bearish trendline on the H4 chart
• Support could be found at the monthly pivot / 0.93 figure level / external of the broken bearish trendline

Below are two charts to identify the trend for Day trades / scalps (H1 and H4 Charts)

H1 - is Bearish

H4 - is Bullish

Outlook Trade opportunity

For Scalps to short till 0.93

Intraweek / medium hold trades to wait for opportunity to go Long towards 0.95 perhaps

Risk Level LOW - Medium

Tips -

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