Hello traders and analysts,
we have a nice update to GBP AUD - now the weekly and monthly zone has been touched and rejected - the bulls are in play now
COT data: - will update when released Tuesday in the comments.
Technicals:
What can we see technically?
- Daily bearish but breaking momentum short in the channel.
- weekly range formed bettwne the red zone and green highlighted
- monthly we have seen a demand formed and a great monthly bullish candle. 1.84 has now been rejected twice so the next hurdle is to overcome this.
- strong Aussie and Strong GBP
- bounce from the demand zone - this has now been completed
- we can see the trend beginning to add long positions to correct - this has now occurred.
- we have made lower lows and lower highs- showing the correction
- now in a consolidation zone with some great wicks formed and a reversal to the upside - this has been boosted by GBP Tuesday as of writing.
-AUD USD ranging market looking to break 0.72+ for upside strength and struggling to break.
- COT report in favour of GBP now with longs added and shorts closed in the past few weeks however, risk off will shift sentiment to immediate bias.
Fundamentals
Aussie is a commodity currency so is highly affected with exports of natural resources, Gold , Oil , Grains, Copper etc.
Victoria lockdown has caused issues for the restart of the border openings
USD outlook affects the progress of strength for Australia.
Coronavirus within the US sees an affect on the economy for the US as a result affects directly Australia where the index correlates.
USD sees 1Trillion package for stimulus package - but no agreement
GBP - lacking a trade deal can affect the GBP on the world stage - but positions are being added so this is good for the GBP gaining strength against majors, however with the Aussie struggling with Dollar correction and GBP strength in orders, the Aussie will be unfavourable in the pair.
Note: Trading is about timing. so even if our stop loss gets hit on the chart. We may not have entered all together and orders can be adjusted.
Trade what you see, this is purely our Bias.
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
If you like our work, please leave a like or comment.
Many thanks for your support to our existing and new followers. Much appreciated
Thanks,
Team Lupa.
we have a nice update to GBP AUD - now the weekly and monthly zone has been touched and rejected - the bulls are in play now
COT data: - will update when released Tuesday in the comments.
Technicals:
What can we see technically?
- Daily bearish but breaking momentum short in the channel.
- weekly range formed bettwne the red zone and green highlighted
- monthly we have seen a demand formed and a great monthly bullish candle. 1.84 has now been rejected twice so the next hurdle is to overcome this.
- strong Aussie and Strong GBP
- bounce from the demand zone - this has now been completed
- we can see the trend beginning to add long positions to correct - this has now occurred.
- we have made lower lows and lower highs- showing the correction
- now in a consolidation zone with some great wicks formed and a reversal to the upside - this has been boosted by GBP Tuesday as of writing.
-AUD USD ranging market looking to break 0.72+ for upside strength and struggling to break.
- COT report in favour of GBP now with longs added and shorts closed in the past few weeks however, risk off will shift sentiment to immediate bias.
Fundamentals
Aussie is a commodity currency so is highly affected with exports of natural resources, Gold , Oil , Grains, Copper etc.
Victoria lockdown has caused issues for the restart of the border openings
USD outlook affects the progress of strength for Australia.
Coronavirus within the US sees an affect on the economy for the US as a result affects directly Australia where the index correlates.
USD sees 1Trillion package for stimulus package - but no agreement
GBP - lacking a trade deal can affect the GBP on the world stage - but positions are being added so this is good for the GBP gaining strength against majors, however with the Aussie struggling with Dollar correction and GBP strength in orders, the Aussie will be unfavourable in the pair.
Note: Trading is about timing. so even if our stop loss gets hit on the chart. We may not have entered all together and orders can be adjusted.
Trade what you see, this is purely our Bias.
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
If you like our work, please leave a like or comment.
Many thanks for your support to our existing and new followers. Much appreciated
Thanks,
Team Lupa.
