GbpAud has been showing bullish potential, making a wedge as same did before a major gap on 15 January 2017.
Aud Interest rates and RBA Rate Statement gonna update in few minutes.
We have approached a resistance trend line which started back on April 21st 2017 and a resistance dating back from May 6th 2010...if not even further back. We also have a bearish divergence on MACD and Momentum. If price breaks resistance it would be invalid.
Take care
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
more detailed stats (all 21 Major Cross-Rates) of 2nd week 2017 @ my GOOGLE Drive
drive.google.com
Best regards :)
Aaron
GBP is not doing good these days. That's why I think there is room for a minor position in this >late< buy point. Because of the overall down trend on this chart and trading below all the EMA and MA's, it is save to say it might go a bit lower. I think it is fine to have a 160 stop-loss because it had 7 days straight with loses. So it might kick a bit soon. Trade...
The price finding resistance at 1.76350 area . Bearish as long as resistance area remains intact. As intraday trading strategy. we must get Bearish signal confirmed by trading below 1.75055 with potential target at 1.73394
THIS IS A TRADE IDEA - NOT ACTUAL TRADE
GBPAUD Bearish on Weekly Chart
THIS IS AS LONG TERM PLAN
1. Bearish Engulfiing Candle Stick at the Back Side of the Trend line
2. StochRSI over bought
3. Price Retraced from 50% fob level of the Down AB Swing / Fib # 2
I will be Selling till .618 retracement of Weekly UP AB Swing!
Target @1.96795
Then if price crossed...
If price creates a false break at the weekly top TL sell this pair. If price bounces we have a bearish hidden divergence.
SL 2 pips + spread above last high before the yellow line is broken.
TP 1 38.2 FR of the last big cycle up 1.92.5
TP 2 1.83
I would really appreciate any comments or thoughts on this analysis, what are you missing here, if there is anything unclear. Your time is greatly appreciated! Thank you.
It appears that GBPAUD reacted on the Weekly S and triggered some buy orders sitting near by 2.02 levels. This was also a previous level of support from the start of this year. Generally I would...
After the better than expected Aussie employment report and the Oil price once again rejecting 30$b/b I would expect to see some minor strength in the Aussie today. The combination of the MPC official bank rate votes and other Important data due out in the UK today which I expect to be on the dovish side we should see this pair post further downside. On the...
