ForecastCity
Short

A great opportunity to sell in GBPAUD . catch it..

OANDA:GBPAUD   British Pound / Australian Dollar
Midterm forecast:
  • While the price is below the resistance 1.8660, beginning of downtrend is expected.
  • We make sure when the support at 1.7995 breaks.
  • If the resistance at 1.8660 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • Price may also reach 1.7995, if price reaches this level, we may enter by Daily-Trading-Opportunities, this entry depends on personal strategies.

    Technical analysis:
  • A peak is formed in daily chart at 1.8475 on 04/26/2018, so more losses to support(s) 1.7995, 1.7650, 1.7365 and more depths is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index ( RSI ) is 47.

    Trading suggestion:
    *There is possibility of temporary retracement to suggested Sell Zone (1.8180 to 1.8510), if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.8180)
  • Ending of entry zone (1.8510)
Entry signal:
Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting Star" or "Peak", in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 1.7995
TP2= @ 1.7650
TP3= @ 1.7365
TP4= @ 1.7065
TP5= @ 1.6860
TP6= @ 1.6550
TP7= @ 1.6160
TP8= @ 1.5790
TP9= @ 1.4375
TP10= Free
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