AUDUSD Forecast and trade setup / update for 15th January, 2015
Following last Friday's analysis on the AUDUSD, it has played in my favour, and here is an update of how its travelling so farDaily Chart
- Hammer candle pattern from yesterdays daily close
Hourly Chart
- After the first inditial Cloud break identified last friday, yesterday the market tried to break the lows and failed.
- The 78.6 fib and cloud acting as strong support giving a h4 bullish engulfing pattern.
- Earlier today in asia, after the numbers from Australia employment figures, market has jumped 60pips on the first 15min candle and closed at the highs.
Outlook Trade opportunity
long for intraday / short term trades, - near term resistance are the highs at 0.825. however my technical tells me it will break those highs and test 0.832-0.835 .This is my second long trade for the week for this pair as a intraweek swing