AUDGBP . .6000 got broken with ease, now goes .6200 - RR2.88significant level 0.6 got pushed through today. Next target will be 0.62. 1-2.88
AUDGBP
Short AUDGBP to 0.585 based on stagnant RBAExpect Reserve Bank of Australia (RBA) rates to stay stagnant. There has been a drop in auction clearance rates and property values across previously hot markets of Melbourne and Sydney due to APRA's interest only lending changes, but this is nothing to cause concern for the RBA.
We can see the beginning of a downtrend on AUDGBP as confirmed by a lack of buying volume and the crossover of the moving average at 20, 50 and 100 on the 4hr Charts.
Retail Sales in Australia are also expected to show a slower growth.
From these factors I am predicting a short to around 0.5850 which we have previously seen as strong resistance prior to the last major bull run and now expect this to turn to a support.
As always,
Stay focused and trade to trade well.
AUDGBP Daily Analysis "Homework"I'll be constantly looking in the future on this pair for potential entries. Updates will follow soon.
AUDGBP Cup & Handle - Buy At BreakoutIn my opinion this is a very positive pattern. Might take some time to break out though. No shorting.
Elliott Wave Analysis: AUDGBP Trading In A Temporary Wave TwoOn the Weekly chart of AUDGBP we are looking at a possible big five wave move in progress, with price now trading in an unfolding sub-wave 2, after a higher degree wave 1 had found its top at the 0.634 level. If that is the case then a three wave corrective move may now be in action, with pair trading in the first wave a-circled of this three wave move.
GBPAUD Bullish at 1.7130 or 1.7030Hello Traders
It is time to watch for the right entry...
Strategy 1
Entry 1.7135
TP: 1.7370
SL: 1.6990
Strategy 2
Entry 1.7020
TP: 1.7620
SL: 1.6700
Tell the true Normally I dont setup SL.... Because My trading Level is 1:10...
I trade with hobby, knowledge, experience, project and investment... not for living cost... Living cost is kill your dream and kill your short life...
Alan Tang
alantang.com.au
AUDUSD Rallies But Remains Technical ShortOn May 9, MacroView issued a short idea on AUDUSD and highlighted the strong correlations with copper and gold, which we would see the trifecta fall 2.93 percent, 4.90 percent and 6.68 percent respectively.
We've seen all three etch out bottoms in early June, yet copper is retesting those lows on unexpected increases in inventories. The AUDUSD went big following the Reserve Bank of Australia holding their key benchmark to 1.75 percent. Unfortunately, this will be short-lived. The central bank's policy will strongly be tethered to the economic performance of China.
Technically, we see price resistance at .7520 with a breakout potential to .7645 since the move does have relative strength in momentum. However, the weekly technicals still show a picture of lackluster upside potential.
Intermediately, the z-score is at a very high 2.6 (+/- 2 are a great contrarian indicator).
Trade posted on chart. Updates will be provided.
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AUDGBP Important LevelThe area in the red circle represents past structure, support level which could possibly become resistance with 0.3 Fib retracement and Over-bought market.
Good entry point for short.
If breaks, all signs available for expectations of a new upward trend.
GBP AUD ShortPound had a huge run up.
Looking to take a power move short 1:1
Momentum slowing - 4 hour showing double top head and shoulders with MACD looking to be going lower, crossing over the 0 line.
Fib retracement from the last big move up. TP is just above the 0.618 FIB level.
Will monitor, may TP at .5 if no strong momentum to push through.
SL above key 1.95 level
let me know your thoughts and feedback???
CYPHER PATTERN - AUD/GBP A potential buy position from the emerging cypher completion at D (0.5123) area with two profit targets. Potential 92 PIPS in the apple!
AUD/GBP OUTLOOK : BULLISHThe analysis above is just my overall bias on the pair. Price has reached the bottom of the channel (also the completion of a harmonic wave) and is beginning print higher lows (indicating a possible uptrend). However, price is still struggling to break resistance (shaded grey area). I will be monitoring this pair for a LONG entry once resistance is broken. Entry will be based on a demand/TL/fibs. A smaller TF analysis for possible entry points will be posted soon.
Please feel free to comment below for any questions or suggestions regarding my analysis.
Thanks
MaiTrader
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.
AUDGBP near-term LONGAUDGBP has found some support (demand) at the psychological level of 0.50000. It seems that the demand zone is in control, driving prices higher and invalidating previous resistance (supply). As prices fall back to intermediate demand zones, long trades can be initiated for intra-day traders while position traders may add to positions or adjust positions.
AUDGBP will eventually head back to 0.50000 where I expect a big rally. For now, quick trades are preferred for me. I'd look to go long at the moment as prices are so close to major demand.
