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 broke resistance zone
2021-11-11 • Updated
- GBP/AUD broke resistance zone
- Next buy target - 1.6750
GBP/AUD continues to rise inside the intermediate impulse wave (3) – which earlier broke through the resistance zone lying between the resistance level 1.6480 (which stopped the previous intermediate impulse wave (1) earlier this month) and the 38.2% Fibonacci correction level of the previous primary ABC correction ② from the start of January.
GBP/AUD is expected to rise to the next buy target at the resistance level 1.6750 (top of the (B)-wave of the aforementioned ABC correction ②) - intersecting with the 61.8% Fibonacci correction of the same wave ②.
Similar
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.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...