Aussiepound
GBPAUD ANALYSISFOREXCOM:GBPAUD
NOTE: (MARKET IS REACTIVE AND NOTE PREDICTIVE)
(LIKE AND COMMENT BELOW TO SHARE IDEAS TO SUPPORT )
From a daily perspective we can see price has been ranging.
A possible bearish rectangle is in formation which has happened for days notwithstanding the downward movements on 4 hour timeframe.
In this type of scenario, price is expected to make a move to the downside. A bearish continuation.
REMEMBER: MARKET IS REACTIVE AND NOT PREDICTIVE.
If price can push through the ranging or consolidating zone we can see a further push downward from the box zone.
Also price has clearyl rejected the resistance zone and looking to break the support to the next support zone
Monitor this pair from a 4Hour perspective for entries.
If you have any suggestion, drop in the comment section below.
GBPAUD Short PerspectiveHaven't posted my trade ideas in a while but realized the few of my ideas tend to come to fruition and figured I will keep at it. But that aside, from the chart we can see the massive upward push that GBP got into with the string of bad data coming from the Aussie mid last week and the local elections that occurred in the UK have given us a retest of the March highs and a price we have not seen since 2016. This is a good chance to load up on going short on the pair. With the cash rate decision looming over the Aussie, which is speculated to be cut from the current 1.50% to 1.25%, we could see it most likely having a retest of the current highs. That is assuming that speculation is correct. If they hold interest rates at the current price then we will have a massive push down on this pair due to odds looking for a change in those rates. The pound too will be a tricky pair to trade this week with brexit news coming in on Theresa May caving in to labor party demands. I still believe we will be retesting the 1.85 price range and the trend line will need to hold for a potential retest of those high levels if not we might have a lower low being made. A bearish divergence is being formed on the MACD giving us further confidence that the pair might just be going for a long term bearish turn. I am currently in on short trades with this pair.
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!
GBP/AUD ShortMarket Makers Drive for Liquidity from and off of Fridays High of Day Close. We have seen a clear spike through the region and now a perfect time to get short down to the next demand level.
GBP/AUD
GBP / AUD - Wait for the kangaroo bounce - SHORTThe pound is bouncing back at the moment, but remember we're in a downtrend, that means we must be patient to find a level of weakness to sell it back down, and the Aussie has bounced back too, so at some point one of them will lose and it will be the one that cannot sustain long term growth without indecision and with Brexit looming, that can only be the Sterling.
I expect the pound to rebound to either of these resistance levels, look for a "two try" rejection, wait for a price action signal and a move similar to this, try one, try twice and then don't make the move higher on the third try, price action rejection, sell.... I will update this pair as we go.
I've done a longer-term analysis to support this, see link below, this pair have made me over 1000 pips of profits this year, you can too with patience and knowledge and not just waiting for sell signals from others.
AUDGBP Daily Analysis "Homework"I'll be constantly looking in the future on this pair for potential entries. Updates will follow soon.
GBPAUD LONG LOOKING FOR A BUYING OPPORTUNITY AT MY BUY ZONE WHICH IS IN CONFLUENCE WITH A FIB LEVEL AND A 3RD TOUCH OF THE TREND LINE. A BREAK OF THIS BUY ZONE WILL LEAD DOWN TO MY NEXT BUY ZONE. FUNDAMENTALLY THIS TRADE IS ONLY GOING IN ONE DIRECTION IN THE LONG TERM BECAUSE THE BOE (BANK OF ENGLAND) STATED THAT THEY ARE CLOSER TO RAISING RATES WHICH IS EXPECTED TO BE THE END OF THIS YEAR OR IN THE BEGINNING OF 2016 WHICH LEAVES GBP THE SECOND STRONGEST CURRENCY AFTER THE DOLLAR.ON THE FLIP SIDE AUD IS BEARISH ALONG SIDE THE OTHER COMMODITY CURRENCIES SUCH AS CAD AND NZD. CHINA SITUATION IS ALSO WEIGHING DOWN AUD. FIRST TARGET AT SWING HIGH/2.12000
AUDGBP future LONGAUDGBP reacted nice off this big picture demand area, gapping into it in the process. This formed an intermediate demand zone within the bigger zone. A return to this price should see a rallying reaction. Profit margin is dependent on supply zones that form on the return to ~0.50300 but a sharp drop should see a 5:1 R/R.
