Trend Line Analysis – GBPAUD Update: 23/07/2015

Introduction to Trend Line Analysis
Welcome to our newest feature; Trend Line Analysis. Our professional market technician showcases intraday / swing trade setups on a broad spectrum of FX currency pairs. The most effective way to use the setup are:
▪ If indicated price zone holds; consider partial profit taking between 20-40 pips before aiming for the maximum listed target.
▪ If the price zone fails to hold; we likely to see price moving against us. Fail means; the candle closing higher or lower to indicated price zone.

 

GBPAUD

We are just doing an update on the pair from yesterday’s point of view. The shorts triggered from 2.1205 are doing well and we feel perhaps the pair can do a 2.093X test based on the 4 hr chart layout. For the day; we can consider going longs from 2.093X if comes into play for some pull backs. The overall drop can find it’s way to under 2.0900 where we feel there are better longs awaiting.

To carry it further; we feel our 8 hrs chart view can possibly come into play by tomorrow and would like to try longs  from right under 2.0900 handle. We will then ideally try to look for a newer highs close to 2.13 handle.

GBPAUD 4 hrs - 2.093X looks optimum drop for the day if the slide continues
GBPAUD 4 hrs – 2.093X looks optimum drop for the day if the slide continues
GBPAUD 8 hrs - T5 looks decent to hit back longs
GBPAUD 8 hrs – T5 looks decent to hit back longs

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