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GBP/AUD Potential Upward Movement

GBP/AUD Long-Term Trend: Bullish

Key Resistance Levels: 1.88033, 1.88845, 1.89492.

Key Support Levels: 1.86966, 1.85741, 1.84420.

Daily Chart:

The price on the higher time frame failed to break the 1.85741 AUD mark and reversed to the upside. A series of bullish candlestick has been posted showing that the buyers are in control and huge amount of buy orders has been executed. Further movement to the upside could be seen in the coming hours.

HOT/USDTPERP Medium-Term Trend: Bullish

4-Hour Chart:

On the lower time frame, the price posted a double bottom formation which led to a reversal and a breakout to the upside of the bearish channel. A lower correction could be seen to the highlighted zone before a new bullish impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 1.87026

TP 1 @ 1.87990

TP 2 @ 1.88845

Stop Loss @ 1.86680

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

2 comments

  1. Hey Joe, I don’t think anyone’s paying for your entry points to almost be hit!

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