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sam_page

GBP/AUD: Beginning with the monthly chart, we can see that GA is currently resisting off of the 1.8500 zone which it has done in many previous tests. As well as this, we also have a support level on at around the 1.7300 level which in previous tests has proven to be a strong level of support especially. Dropping down to the weekly chart we can now see the true...

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Having closed above a previous strong support level of 1.8760 and seeing that stochastics on the 4 hour time frame are forming Divergence i am waiting for bullish candlestick formations at this level to go long up to the 1.8836 level to take profit. My stop level is 1.8730, although if Gbp/Nzd breaks and closes below the 1.8760 level with a bearish candlestick...

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Starting with the weekly chart on this pair, we can see that we are currently in a declining tend zone. having recently rejected a break out of the roof of the zone, we have our first confluence that we are looking for short opportunities. We then drop down to the daily timeframe where we can see that price may be coming back up for a retest of the 142.83 level...