$AUDUSD Trade setup and Forecast for the week 16th March, 2015

AUDUSD Trade setup and Forecast for the week 16th March, 2015

Comments from Last week Analysis:

Last week the aussie gave us new lows and broke support, this quickly regained back above broken support and had a daily close above. From my previous weeks trades This had stopped out on my long trade which was targetting 0.795.

Weekly Chart

• Looks heavy, however, RSI is showing very slight divergence

Daily Chart

• If you zoom into Thursday's candle, it has a huge bullish candle recovering previous two days losses
• This also reacted to me as a false break and also holding by the Weekly S2
• And also a 127.2 fib extension
• RSI positive divergence

4 Hour Chart

• I shall be taking a long if i see a break on the trendline / ichimoku clouds to the upside
• Taking long opportunity because of the Thursday false break giving a big bullish candle

Outlook Trade opportunity

For bulls : - Take long either at the break of trendline or ichimoku to the upside

For Bears : If last weeks lows break and close below, happy to take short targetting 0.735 approx

Risk Level - Medium

Tips -

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

AUDUSD Forecast and Trade Setup for the week 2nd to 6th March, 2015

AUDUSD Forecast and Trade Setup for the week 2nd to 6th March, 2015

Monthly Chart

• February close was higher than the Jan Close, however only by slightly
• Monthly Candle represents indecision
• Ichimoku study is in a bearish trend

Weekly Chart

• Weekly candle closed lower than the previous week, The body is relativly small
• Ichimoku Study - trend is bearish, however Kijun-sen is flat meaning price could retrace up

Daily Chart

• Ichimoku study - bearish trend however, Kijun and tekan sen line are very close to touching and perhaps cross

4 Hourly Chart

• Ichimoku study - bullish trend

Outlook Trade opportunity

Bears - If this week's 4hr ichimoku cloud breaks, a possible continuation to the downside in the main trend is high probability

Bulls - If ichimoku holds, and the highs of last week is taken out, then my targets shall be 0.80

Personal note - looking at the Gold Chart, it seems bulls could take control this week, so the Aussie should be the same

Risk Level __

Tips -

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