GBP/AUD-Weekly analysis-What to expect ?
Hello traders!
-On weekly chart we can see that week started with strong bearish momentum,WHY?-Because AUD is very strong right now and GBP is very weak and AUD is pushing GBP in bearish direction.
-I have noticed that price is rejected on strong weekly resistance line(upper blue line)-if price stays above that line we can say that resistance become new support.
-We have 3 days until markets are going to close so we will see what is going on.Will price break that resistance and went bearish or the price will keep in bullish direction?
-I believe that price will push in bearish direction because AUD is very strong now on daily and weekly base.
-I will also wait for more conformation on lower time frames and I will wait to news what is going on with this pair.
-ALWAYS BE PATIENT ABOUT TRADING AND YOU WILL HAVE BETTER RESULTS!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support,i will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.
-On weekly chart we can see that week started with strong bearish momentum,WHY?-Because AUD is very strong right now and GBP is very weak and AUD is pushing GBP in bearish direction.
-I have noticed that price is rejected on strong weekly resistance line(upper blue line)-if price stays above that line we can say that resistance become new support.
-We have 3 days until markets are going to close so we will see what is going on.Will price break that resistance and went bearish or the price will keep in bullish direction?
-I believe that price will push in bearish direction because AUD is very strong now on daily and weekly base.
-I will also wait for more conformation on lower time frames and I will wait to news what is going on with this pair.
-ALWAYS BE PATIENT ABOUT TRADING AND YOU WILL HAVE BETTER RESULTS!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support,i will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.
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