-Price is clearly in an overall bullish trend.
But price appears to have become overextended, after a huge breakout (through the trend line) and has since been consolidating preparing to make a possible pullback/retracement.
Price has formed a Head and Shoulders (H&S) formation which is a sign of bearish pressure or a possible...
I think GBPAUD is about to take off.
Price appear to have formed a bullish flag on the 4hour time frame, and made a break out.
This is looking like a swing trade. If you go take a look at the weekly chart, you will notice that price was in a retracement for the pass 2-3 weeks. Price found support and is now making a push to the upside.
As you can see my overall longterm bias for AUDJPY is bearish. But im expecting a push to the upside, before the next drop.
Price created a new low, and now im expecting price to retrace and test the previous low, meeting resistance then create a bearish continuation move to the downside. Bear
After last weeks successful short on AUDUSD from 0.71 down to Novembers low (blue dashed line) we sat out whilst it bounced back to 0.71 resistance level and looking to RELOAD our short here again.
The bounce has taken us to 60 area again on RSI- as per chart we have sold off at similar levels from here- looking for a retest of Nov low before seeing a break down...
With the RBA meeting minutes coming out next week and the recent data from the USA I am expecting this currency pair to head back down to recent support levels. The RBA kept rates on hold in the last meeting but I expect them to leave the door open to further rate cuts and the December rate hike for the US is still on the table giving us...