EURUSD Forecast and Trade setup for the week ending 15th August, 2014
Weekly Chart
- Slight Positive Divergence on stochastic
- Pin bar candle
- note from a 1.34 figure level and support level
- Clouds in Bullish View
Daily Chart
- Positive Divergence on Stochastic setting up nicely
- Friday Candle is Bullish Engulfing
- Note resistance is shown in Green where sell signals could start to play
- Clouds are in bearish view
- More comfortable taking a long from the next support
- Completes a AB=CD
- 61.8 fib
Hourly Chart
- At the bearish clouds and resistance zone on a Daily TF (note this range is quite wide so we might have a range play?)
- Positive Divergence on stochastics and MACD
- Rising RSI
Outlook Trade opportunity
So the only timeframe chart which shows a bearish view will be the Daily, all the others (Weekly, H1 and H4) all points bullish, So would be interested to go for a long trade and close out before Thursdays GDP and CPI releases