AUDUSD Forecast and Trade setup from htsang

AUDUSD forecast for the week 13th January, 2014 (Monday)

Daily Chart

[ul]
[li]The Aussie is currently trading above .90 level [/li][li]I expect the Aussie to reach the .91-.915 level[/li][li]Stochastic from the previous test of support was showing good divergence to the upside[/li][/ul]

Hourly Chart


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[ul]
[li]Bullish trend should continue this week,[/li][li] I will look for trade opportunity for bullish trend continuation retrace to ride it up [/li][/ul]

[I]Outlook Trade opportunity[/I]

[B][I]There is three setups on display on the chart above[/I][/B]
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Risk Level- LOW

AUDUSD Trade Setup 14th January

Yesterday my trade setup for a short has resulted around 70 pips and could still go for more, Personally i only took 30 pips.

Today Conditions have changed, and i am looking for opportunity to go long again from a high probability area

  • Confluence of fib ext 200 and 127.2
  • also a fib 38.2
  • Also an area of previous resistance which now should be support (touched two times, over the last month)

Risk Level LOW

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[B]Tips -[/B]

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

Order is filled to the pip as it bounced from the 200ext level