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 ...
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.