Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
GBP/AUD with a supply zone around 1.7360
2019-11-11 • Updated
GBP/AUD stays alive in the bearish trend held since several days ago, consolidating its price action below the 200 SMA at H1 chart, which is also offering a dynamic resistance in the pair across the board. The next target to the upside lies at the Fibo target of 50% in 1.7359, at which could trigger sell orders to reach the next downside target at the -23.6% Fibo level at 1.7137.
RSI indicator remains in the neutral territory, pointing to the downside in the short-term.
Similar
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
Latest news
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...