USDCHF Forecast and Trade Setup for the week ending 27th June, 2014
Daily Chart
- Last week fell and rebounded from the support level and produced a Hammer Candle
- MACD is still in bullish territory however lines as crossed
- If prices were to break current support, our next support is at the Monthly Pivot which is also a strong support where it will be a top bottom trade setup
Hourly Chart
- Zooming into an hourly chart, we can see that prices bounced off the support
- If prices do retrace more it would be good to go long
15 Min Chart
- Looking at a 15 minute chart, i am looking at a potential trade off a confluence of three fibs as shown on the chart.
Outlook Trade opportunity
Look at 15 min chart
Risk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
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
