I think we will rise this year. Depending on that we will soon return to 445, after the breakthru at 468 I target around 530... Sure there is still a strong downtrend to 380/90 but I see no need for that since we're still in a growing market.
Potential long on the GBPAUD. Stoch is oversold, RSI is also in an over sold position, we have also hit minor support at 2.08803 from the previous low. For another strong move we will be monitoring the RSI, waiting for it to breakthrough resistance, if so then we draw a horizontal support line where the break occurs then Short the GBPAUD until the RSI breaks back...
Price Action, channel, supply & demand and MACD resistance. Example of using different techniques once one has finished. Price action is a fantastic tool.
AUDUSD still showing very Bearish signs, its sitting well below the 50EMA with the Stoch indicating an over brought market.
:::Trade swap Tuesday::: Nice long breaking through the 50EMA on the EURGBP, points of management are the previous highs around the 0.73480 zone
Im also liking the XAUUSD this week, looks like Gold could pull back to the resistance line of 1139.78, if this does happen I will be looking for bearish confirmation then managing the entry around the 1124.31 zone. However I do expect Gold to fall further.
Im liking the AUDNZD this week, if the AUDNZD pulls back to the former resistance line we could see a potential long entry. Points of interest would be the previous highs of the channel as potential pullbacks which are indicated by the red broken lines.
Looking for a bearish pull back here down to around the 1.55681 range, then looking for the Bulls to take over and continue this upward trend. Areas of management would be the 1.60987 zone and also the 1.62242. Hoping for a break through at the top.
AUD is still in a very bearish trend, the market is expected to decline over the coming months. There will be some good opportunities as the AUD pulls back to enter trades. The .70700 range from the previous week held good resistance, which we will set an alert for and monitor. Good one to keep an eye on this week.
Possible setup on the EUR/USD this week, looks as though it will pull back to the 1.10000 range. I would be managing this trade for a possible pullback around the 1.1200 to 1.3500 zone, or on the previous highs through the channel. Good looking setup for this week. Lets see how this unfolds.