GBPAUD, Weekly, Amazing Swing opportunity ! GBPAUD is approaching a strong support of a weekly ascending channel.
I'm excpecting the price to reach 1.98000 our key level.
let's see how it will play out.
Gpbaud
GBPAUD STRONG SUPPORT ZONE --> LONG TRADEGBPAUD arrives at strong support zone ; nice entry for long position and possible swing to the upside
GBPAUD BUY SETUPI'm looking at this pair for a potential buy.
Price is currently at the 61.8 fib level on the daily.
If it respects this level and I see a trend line break, I will be looking for buys on the correction.
GBPAUDThe market broke the last structure on 4h timeframe and already retest it.
The B point is bounced on 0.318 Fibonacci's level, and C leg could be the same length of A in order to complete ABC correction.
GBP/AUD Rising Wedge Short Price coming up to a weekly level. Rising wedge along with 4hr RSI bearish divergence could signal a reversal. Entry zone between 1.941-1.947 with targets at 1.915 and 1.896
GBPAUD SHORTShort position already set with a head & shoulder pattern but the Aussie too is weak to even consider going hard on this.
GBPAUD BEAR PLAY GBPAUD BREAK AND RETEST WITH BEARISH HAMMER CONFIRMATION IN CONFLUNCE WITH THE 200 EMA CROSSOVER WE ARE SELLING
GBPAUD - looking for a good price to re-enter short!From my last post on this pair, we did see that push to the downside based on a couple of economic factors. First the speculation of the RBA cutting rates did not occur like I suspected. Instead the rates were held in at 1.50%. Keep in mind we know the RBA will cut rates and now we might see that come in as early as next month as they have now stated 3 rate cuts might be occurring this year. That tells us those have already been priced into the market. Looking at things from the pound’s perspective, we have the Brexit dilemma which keeps getting a twist especially with the resignation of Theresa May. A lot of rumors are going around that Pro Brexiters will push for a no deal while the other extreme want to remain in the EU. The British will not be able to renegotiate the deal May made with the EU. Hence two things, either they revoke Article 50 or a hard Brexit will happen and it won’t be pretty.
Moving to the technical analysis of this pair, I am looking for a retest of the 1.85 - 1.86 area as we currently sit on a temporary support to re-enter going short on this pair. The MACD confirms the bearish divergence just like I mentioned in my last post and with the fundamentals looking better for the Aussie, I am looking for this currency to pick up some steam. We should be seeing the 1.82 Price area once again.
Remember, patience is key! GL
DISCLAIMER!!!!
My Ideas are mine and mine alone and are only to provide my perspective of the current market situation. Do not take my posts as trading decisions for entries or exit. Trading the FOREX market is very risky and indulge in it at your own risks!
Simple GBPAUD short using the RSII have here a simple setup using the RSI. If you take a look at the ascending trendline then you'll see that it broke below it and is going for a retest.
This does not mean that it's going to be in a downtrend but it will be a small short down to the necklines.
GBPAUD long term sell !Look for a flag on a lower time frame and wait for a deeper correction before the big down move.
GBP/AUD 4H Chart: Surges as expected Following up on last week Monday analysis for the GBP/AUD currency pair. Bulls strengthened their position as expected and moved past the 200– hour simple moving average at 1.7782.
However, after hitting the weekly pivot point at 1.7973 on June 19, the currency pair made a brief retracement south. Meanwhile, a new junior ascending pattern has been spotted and mapped out to trail the price movement.
As for near future, the GBP/AUD currency exchange rate is likely to move further south toward the 55– and 100– hour SMAs during the following sessions before continuing its northern journey.
GBPAUD Testing Resistance, Potential Reversal!GBPAUD is testing its resistance at 1.7916 (50%, 61.8% & 76.4% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse, causing price to fall to its support at 1.7724 (38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur. We have also identified a bearish divergence with price which contributes to our bearish bias.
still bullish hi all
this pair is trading up to downtrend but needs a breakout of this triangle to confirm if it will go higher or back to testing the downtrend line
GBPAUD analysis for Week 5As I mention in my analysis last week, my long term bias on GA is pretty bearish. Last week, we came all the way to 1.7700 to test the 0.618 Fibonacci level. After that, GA formed a evening star candle, with extreme bearish close on Friday. I will expect some futher down side momentum on this particular pair, 1.72500 will be my first target. Depend on the price action around such level, I will then update my analysis on this pair. Now, I personally will wait for any retracement on H2 time frame to actually execute a short.
GBPAUD IdeaA lot of consolidation going on for the past couple of weeks. It is looking for the proper direction. If it breaks upwards, it will go to 2.0+ but my bias is a downward move. AUD has been sold off aggressively across the board and Sterling will be tested with the General Election coming up. The conservative party is losing some steam. This is not the most liquid of pairs but when it moves, it moves BIG and FAST. So be prepared to make some money.
Double Doji At Support Emerging on GBPAUDToday's candle is not yet complete, but as of now, it appears there is a double doji shaping up on the daily candle. Moreover, this is occurring at support in an uptrend. As such, I put in an entry order to go long at 8530, with my stop at 8285 (just below the lows of the double doji) and my target profit at 8620. I'm risking 65 pips to gain 270, which gives me a reward/risk ratio of about 3.176.
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