AUDUSD Forecast and Trade Setup for the week ending 29th August, 2014
AUDUSD Forecast and Trade Setup for the week ending 29th August, 2014
Monthly Chart
- Monthly Chart we are trading very near the fat resistance zone
- However if we do break the resistance zone, a very near next resistance from confluence of fibs is there
- There is also the descending trend line channel
Weekly Chart
- Oscillators are showing upward momentum
- Will look at the RSI to break to the upside for a possible long
- Be Cautious as Huge resistance zone
Daily Chart
- Daily Candles from resistance is showing good support giving us a bullish outlook for the near term
- Again, looking for the RSI to break to the upside for a long
- On the otherhand, we have monthly pivot / resistance possibly stopping the aussie longs
Hourly Chart
- Just look at the chart... :)
Outlook Trade opportunity
Looking for scalp buy trades opportunity to monthly pivot
Risk Level LOW
Tips -
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