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Gbpaudsell

GBPAUD BULLS GETTING TIRED. BEARISH REVERSAL AHEAD?Just like the GBPNZD I just published. The weekly chart above puts GBPAUD's entire decline since August 2015 in an Elliott Wave context. The pair’s decline can easily be seen as a five-wave impulse. The pattern is labeled 1-2-3-4-5, where five sub-waves of waves 1, 3 and 5 are also visible. According to the Elliott Wave theory, a three-wave correction follows every impulse. This means the overlapping bullish price action that follows the decline is most likely a complex W-X-Y-X-Z triple three correction within the larger downtrend from 2015 high @ 2.23779. Note how the resistance level, upper trend channel, and 50% Fibonacci level discouraged the bulls in wave Z. This is another indication that the entire 5-3 wave cycle is complete. If this count is correct, we can expect the trend to resume in the direction of the impulsive sequence. Furthermore, the sell-off is supposed to breach 2016 low, so targets below 1.57810 are plausible for GBPAUD in the months ahead. Thanks for Reading!
Short
by Veejahbee
GBPAUD Fundamental Analysis – October 15th 2019Here are the key factors to keep in mind today for British Pound trades: UK Jobless Claims Change and Claimant Count Rate: The UK Jobless Claims Change for September is predicted at 26.5K and the Claimant Count Rate is predicted at 3.3%. Forex traders can compare this to the UK Jobless Claims Change for August which was reported at 28.2K and to the Claimant Count Rate which was reported at 3.3%. UK Employment Change, ILO Unemployment Rate and Average Weekly Earnings: The UK Employment Change for the tri-monthly period ending in August is predicted at 26K and the ILO Unemployment Rate is predicted at 3.8%. Forex traders can compare this to the UK Employment Change for July which was reported at 31K and to the ILO Unemployment Rate which was reported at 3.8%. Average Weekly Earnings for the tri-monthly period ending in August are predicted to increase by 4.0% annualized and Average Weekly Earnings Excluding Bonuses are predicted to increase by 3.7% annualized. Forex traders can compare this to Average Weekly Earnings for July which increased by 4.0% and Average Weekly Earnings Excluding Bonuses which increased by 3.8%. Here are the key factors to keep in mind today for Australian Dollar trades: Australian ANZ Roy Morgan Weekly Consumer Confidence Index: The Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of October 13th was reported at 110.9. Forex traders can compare this to the Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of October 6th which was reported at 112.3. RBA Minutes: RBA minutes from the last central bank meeting were released. They highlighted concerns about the ongoing economic slowdown and the RBA expected that inflation and employment will come in below its expectations over a longer time period. Another interest rate cut appears off the table, at least for the next meeting, unless the economy faces an unexpected shock to the downside. Chinese PPI and Chinese CPI: The Chinese PPI for September decreased by 1.2% annualized and the Chinese CPI increased by 3.0% annualized. Economists predicted a decrease of 1.2% and an increase of 2.9%. Forex traders can compare this to the Chinese PPI for August which decreased by 0.8% annualized and to the Chinese CPI which increased by 2.8% annualized. Should price action for the GBPAUD remain inside the or breakdown below the 1.8575 to 1.8715 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.8650 Take Profit Zone: 1.7935 – 1.8075 Stop Loss Level: 1.8785 Should price action for the GBPAUD breakout above 1.8715 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.8785 Take Profit Zone: 1.8890 – 1.9035 Stop Loss Level: 1.8715 Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Is your forex investment in good hands? Find out why more and more forex traders trust PaxForex with their portfolios! WHY TRADE WITH PAXFOREX? We are one of the fastest growing Forex Brokers in the Market. Trade with PaxForex to get the full Forex Trading experience which is based on... The Reliability on all Assets in the Market Trusted Worldwide for over a Decade Live Multi-Lingual Online Support 24/5
by PaxForex