The AUD currency has been seeing some weakness and if we look at the inflation it is relatively weakening. The inflation rate in Australia went from 2.8 to 2.4 and the interest rate for AUD is sitting at 4.1.
The Pound has seen some love due to raising inflation narrative we are sitting at 3.0 and it is expected to drop to 2.9 with the interest rate sitting at 4.5.
AUD interest rate projection -> Q1 4.1 -> Q2 3.85 -> Q3 3.85 -> Q4 3.6
GBP interest rate projection -> Q1 4.5 -> Q2 4.25 -> Q3 4.0 -> Q4 4.0
I would love to see the price make some pullbacks to the 50% fib or go a little below to the 100 EMA for a better RR. However, if you pull out the Bollinger Bands you will realize that the 4H price has bounced off of the lower Bollinger.
And if you try drawing a FIB from the recent 4H Swing Low you will notice a bounce from the 50% level. I would try DCA or put a tight SL below 204738 maybe if price stays flat but slowly melting upwards.
The Pound has seen some love due to raising inflation narrative we are sitting at 3.0 and it is expected to drop to 2.9 with the interest rate sitting at 4.5.
AUD interest rate projection -> Q1 4.1 -> Q2 3.85 -> Q3 3.85 -> Q4 3.6
GBP interest rate projection -> Q1 4.5 -> Q2 4.25 -> Q3 4.0 -> Q4 4.0
I would love to see the price make some pullbacks to the 50% fib or go a little below to the 100 EMA for a better RR. However, if you pull out the Bollinger Bands you will realize that the 4H price has bounced off of the lower Bollinger.
And if you try drawing a FIB from the recent 4H Swing Low you will notice a bounce from the 50% level. I would try DCA or put a tight SL below 204738 maybe if price stays flat but slowly melting upwards.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.