Idea based on:
1. MACD Divergence
2. Price is reaching long time support/resistance at 0.69900-0.69930
3. At the time of posting we have witnessed a risk on sentiment across the market with equities going up and safe haven falling down including Gold, which is strongly correlated with AUD.
But I might be all wrong :)
Please correct me if I see it wrong, in my opinion after head and shoulders price gave us false breakout and came back above major support and resistance level where after current correction might head up.
Hello guys, I am new to TradingView website and I still learning how to analyse the market.
Please can you give me your advice/opinion about have I correctly analysed this chart.
In my opinion bearish trend of GBPAUD is running out of steam and I expecting it to bounce from 2.020 level and to reverse until it reach resistance at about 2.050 then pull back and...