AUDUSD Weekly forecast and trade setup for 31st, March, 2014
AUDUSD Weekly forecast and trade setup for 31st, March, 2014
- Have we topped and Bearish Cypher in play?
Weekly Chart
- Few weeks ago I have indicated the Flat Kinko Line (Blue line) which usually attracts the price towards it, This has obviously been achieved last week
- Stochastics is oversold, and I expect this week for prices to retrace down
Daily Chart
- From Fridays Candle it seems perhaps we have found the top or at least a breather with few resistance in play
- Upper chanel
- 127.2 fib ext
- 78.6 Cypher completion (around 2-3pips away from pin point)
- Previous Support which now is resistance
Hourly Chart
- Would be looking for price to break and close support of 0.9218 to confirm change of trend .
MOVING AVERAGE Charts
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| Daily Trading Above 200MA (but other MA's are messy) Daily Trend - Unknown |
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| H4 MA are in line in a bullish trend (50,100,200 all in sync) H4 Trend - Bullish |
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| H1 MA are in Bullish Trend (50,100,200 all in sync) However price is flirting the 50MA H1 Trend - Bullish |
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| 15min MA - perhaps start of bearish trend as the 50 and 100 crossed (200ma yet to) 15Min Trend - Bearish Perhaps? |
MA trend - Still in a bullish Trend overall
Outlook Trade opportunity
- Would be looking for price to break and close support of 0.9218 to confirm change of trend
Risk Level
Tips -
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