AUDUSD Daily Outlook for the week ending 18th July , 2014
Weekly Chart
- Negative stochastics Divergence still in play as noted last week's analysis
- Last weeks candle was an inside bar
Daily Chart
- Recent Support is still holding quite well (0.93350) after the strong selling from two wks ago. Last week we did try to revisit the highs but a confluence of 61.8 and resistance zone has provided resistance to push down to sub .940
- For this week, i shall look for market to retest the 0.94250-945 for a negative candle to evolve before taking a short.
- Note - The Ichimoku clouds are thin which is a sign where the market could easily break the clouds and start changing the trend
| Trend Filter | Daily | H4 | H1 |
| 3 MA Cross | Bullish | RANGE | Range / No trend - |
| 30SMA | Above however 30ma is slightly pointing down | Above | Above |
| 50SMA | Above | Above | Above |
| 100SMA | Above | Below | Above |
| Ichimoku | Bullish | Bearish | Bearish |
| SCORE | 4/5 Bearish | 2/5 Bearish | 1/5 Bearish |
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