NZDUSD Update - 29th August, 2014

NZDUSD Update - 29th August, 2014

Update -

Writing an update of how the NZDUSD is going from my earlier blog post this week
So far it has reacted as planned,

• Cypher pattern identified on Daily Chart
• Price broke out of the bearish trend channel on the H4
• RSI broke to the upside on H4

This is an update of the 4hr Chart

1hr Chart, 

Outlook Trade opportunity

Today I'd be looking for price to retrace to the 78.6 / S2 pivot support area, for a long trade

Risk Level LOW

Tips -

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

XAUUSD Gold Forecast and Trade setup

XAUUSD Gold Forecast and Trade setup 

Weekly Chart

• RSI is showing weakness

Daily Chart

• Bullish Cypher is possible Note this pattern is not the same as the one on the 4hr chart

Hourly Chart

• 4hr Bullish cypher is possible at the next support zone
• Near term price action is in a bearish momentum, however price is trying to go back above support where it could be a false break ,
• on the other hand, price could drop to the next support if US Data is hawkish tonight

Outlook Trade opportunity

Bit of an unknown for short term trade, however, personally i have taken a short position targeting 1260-65's

Risk Level High

Tips -

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