Trending markets are simply characterized by a repeating pattern of higher highs and higher low in an up trend. Lower high and lower low in a down trend
On the weekly chart we can see that after an uprun of 1400 pips GBPAUD is retracing, taking rest. Though it has slipped below the weekly support of 1.8670, still we saw some price rejection from below. Therefore, If price goes up from here and and start trading above the safe zone of 1.8670, we can BUY with an SL below the support. TARGET: 350-400 pips
This week for GBPAUD I am anticipating for price to come up into an unmitigated supply zone before heading down. I am looking to take potential sells from this area if I see a confirmation within my POI.
From looking at structure with a top down analysis I have placed some areas that I see price most likely coming to both short term and long term. I have placed an alert at 1.89499 to see if price gets to my POI for a potential short position.
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (1.8930).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. GBPAUD is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts...
1-GBP is strong fundamentally and AUD is weak
2-Amoung the GBP group British pound looks strong and In auzi dollar group Auzzi showing also strength
waiting for AUD weakness if want to go for long FX:GBPAUD
3- on chart technically speaking i want to see how buyers shows at S&R level than decide to go for long or not.
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (1.9045).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. GBPAUD is in a range bound, and the beginning of a downtrend is expected.
. The price is above the 21-Day WEMA, which acts...
Hey guys for GBP AUD market forecast, as we can see the market was in control with the buyers from the previous one to two days now the market has started to come into the favour of sellers as we can see the live price action candles as a shooting stars and we can also see the lots of weeks which are showing the market that the market is now into the control of...
Hey guys for GBP AUD market forecast, as we can see the market was in control with the buyers from the previous one to two days now the market has started to come into the favour of sellers as we can see the live price action candles as a shooting stars and we can also see the lots of weeks which are showing the market that the market is now into the control of...
