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 reversed from resistance zone
2019-11-11 • Updated
- GBP/AUD reversed from resistance zone
- Next sell target - 1.7365
GBP/AUD recently reversed down from the resistance zone lying between the resistance level 1.7660 (which stopped the previous primary ABC correction ② at the start of May) and the upper daily Bollinger Band. The downward reversal from this resistance zone completed the previous intermediate ABC correction (2) from the end of August. GBP/AUD is expected to fall toward the next sell target at the next support level 1.7365.
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.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?