GBP/AUD Technical Outlook after Retesting the Support

The pair got the starting sign yesterday to make new highs in the next trading days.

Technical Analysis
24. 10. 2017
GBP/AUD Technical Outlook after Retesting the Support

Last week the GBP/AUD pair declined by more than 170 pips to touch and test 1.6670 which has ben a support level for the price in the last months. Meanwhile, the moving average 50 was at the same area, so the pair returned back to surge again and we saw Friday’s candle swallowed Thursday’s one to form a reversal pattern. Although in our last report we recommended buying the pair and it didn’t hit our target, we’re still keeping the same outlook after returning back from this level.

The pair is trading in an upside wave after breaking the channel to make new highs higher than September’s top. This week the pair got the green light to start the rally, so let’s take a look at the H4 chart to see it clearly.

The pair was trading in a price channel for three weeks and broke it up yesterday, so we can buy it at this level.

The Next Few Days

After this analysis, we have taken a positive vision after breaking the short-term channel in the H4 chart, so we can take a buy order now at 1.6925 and keep our first target at 1.7130 and the second one at 1.7270. That is in case the pair is still trading above 1.6670 and the moving average 50 on the daily chart.

Tomorrow we have lots of news that will affect the pair like the CPI from Australia and the Prelim GDP from the United Kingdom, so be careful in trading due to the volatility in the markets, especially today.

SuperForex
USD/CHF Technical Analysis

Technical Analysis

USD/CHF Technical Analysis

SuperForex
24. 10. 2017
USD/JPY Technical Overview & Daily Chart

Technical Analysis

USD/JPY Technical Overview & Daily Chart

After breaking 112.90, bulls are looking forward to new highs.

SuperForex
23. 10. 2017
NZD/USD: Fundamental Review & Forecast

Technical Analysis

NZD/USD: Fundamental Review & Forecast

Speculations around the Federal Reserve and positive statistics support the USD. The NZD continues to fall.

SuperForex
20. 10. 2017