AUDUSD forecast and trade setup for the week ending 27th June, 2014
Daily Chart
- Flag formation type pattern with price breaking to the upside potential
- Last week we produce a bullish engulfing candle hinting more upside is to come potentially breaking current resistance
- MACD is in bullish territory
Hourly Chart
- Very bullish price action last week so if price retrace to the confluence level (0.93650) 61.8 fib and 161.8 fib extension we could initiate a long position when looking on an H1 / 15min chart
- Note this weeks pivot has not reflect on the charts at time of posting, so if a weekly pivot or daily pivot falls in the same area, it will build a stronger case
- This area is also a top bottom / (previous resistance) on an H1 chart
Outlook Trade opportunity
As per Hourly chart -
Risk Level Low
Tips -
Always take note of any economical news event on our provided calender below
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
