The GBP/AUD pair is starting to move lower in line with the dominant medium-term downtrend after a positive assessment by the Reserve Bank of Australia (RBA) lessened fears they would devalue the currency. This Bearish setup was taken after the clear rejection shown on the 1H timeframe of resistance above, taking a clean 1:2 Risk & Reward
Just a quick look at this pair we can see that price reached support at "130.00" creating a bullish 2 bar formation also with a clear bounce. The move on the lower timeframe will show an intraday breakout to the upside with buyers targets at "132.75" Long term we should see price reach "134.00" unless this is a false break which would make this move invalid.
Currently Long on Xau/Usd (Gold) after price came down to a major support zone and trend line. This trade was executed due to a 2 bar setup & more confirmation was given when a pin bar appeared (1H) We could potentially see price retest previous highs at "1325.00" Entry - "1310.00" Target - "1320 0.00"
Last week we seen this pair decline following an inside bar pattern, this formed around resistance at "1.3400. We could see price move lower after we broke out of mid term uptrend, yesterday we seen this pair trade near daily lows after the BOE (Bank of England) kept key interest rates flat at 0.25%. some traders maybe trying to get long as this maybe a deep ...