The hidden profits on the market - GBP/AUD
Hello traders,
Today I share with you one of my Weekly Trading Plans. I turn my attention to a currency pair with a lot of potential. In this trading plan I analyse the GBP/AUD currency pair and the possibilities that lie ahead.
You can see the full technical analysis on our Youtube channel.
Below I would like to present the different areas/levels about which I talk in the video in numbers as well as a short economic analysis for this week.
Daily Resistance Area: 1.7924 to 1.8070
Confirmation Level: 1.7855
Safe Level for Profit Taking: 1.7710
Main Target Level: 1.7415
Economic Overview:
Thursday - June 21st
The only day with High importance reports concerning our main currency from the currency pair - the GBP. Beware because usually those events/reports tend to bring volatility to the market, so I would advise some profit taking before that.
GBP Bank of England Bank Rate
11:00 GMT (13:00 Bulgarian time)
The expected outcome is for the BOE to leave their Interest Rates unchanged at 0.5%. This is already being priced in on the market as we can see from the huge drop of the GBP. There is always room for surprises, so keep it in mind.
GBP BOE Asset Purchase Target
11:00 GMT (13:00 Bulgarian time)
Again a number that should remain unchanged. There might be some volatility on the markets tho and a short reversal as traders take their profits from the already priced in events. Keep it in mind.
GBP BOE Governor Mark Carney Delivers Mansion House Speech
20:15 GMT (22:15 Bulgarian time)
I would advise you to lock in bigger part of your profits before that speech and listen carefully at what Carney has to say as he might give out hints regarding Britains’ economical future. Strong volatility is expected.
That would be all for this week! I hope you manage to take your share of the pie.
I wish everyone good luck and a profitable week! :)
Today I share with you one of my Weekly Trading Plans. I turn my attention to a currency pair with a lot of potential. In this trading plan I analyse the GBP/AUD currency pair and the possibilities that lie ahead.
You can see the full technical analysis on our Youtube channel.
Below I would like to present the different areas/levels about which I talk in the video in numbers as well as a short economic analysis for this week.
Daily Resistance Area: 1.7924 to 1.8070
Confirmation Level: 1.7855
Safe Level for Profit Taking: 1.7710
Main Target Level: 1.7415
Economic Overview:
Thursday - June 21st
The only day with High importance reports concerning our main currency from the currency pair - the GBP. Beware because usually those events/reports tend to bring volatility to the market, so I would advise some profit taking before that.
GBP Bank of England Bank Rate
11:00 GMT (13:00 Bulgarian time)
The expected outcome is for the BOE to leave their Interest Rates unchanged at 0.5%. This is already being priced in on the market as we can see from the huge drop of the GBP. There is always room for surprises, so keep it in mind.
GBP BOE Asset Purchase Target
11:00 GMT (13:00 Bulgarian time)
Again a number that should remain unchanged. There might be some volatility on the markets tho and a short reversal as traders take their profits from the already priced in events. Keep it in mind.
GBP BOE Governor Mark Carney Delivers Mansion House Speech
20:15 GMT (22:15 Bulgarian time)
I would advise you to lock in bigger part of your profits before that speech and listen carefully at what Carney has to say as he might give out hints regarding Britains’ economical future. Strong volatility is expected.
That would be all for this week! I hope you manage to take your share of the pie.
I wish everyone good luck and a profitable week! :)
