GBPAUD H4 - Still trading between the S/R range, approaching resistance at the moment, may want to look for reversals to then trade back down to support. 30 minutes until H4 close. Selling from resistance was calculated at just under 1:3 yesterday, ultimately depends on entries etc.
At the moment, in the big picture we are forming an ABC zigzag correction pattern which will take us into the 1.07408 area in which price will continue upwards. For now we can short down to this level by taking flag breakouts in favor of the downside. We have just closed below an ascending triangle on the lower timeframes and this has lead me to go short taking...
The dollar index on the daily chart you can see that we are now in a key area where it is testing resistance from February and November 2015, due to recent results from the US raising interest rates this has caused concern for investors and we have seen a big sell off, I believe we may see a big sell off again after the pullback to 99.26 0.382 fib or even gain...
