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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.6710 to 1.6550). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.6710)
    • Support on 07/14/2017
    • Support on 07/13/2017
    • Support on 06/27/2017
    • Support on 06/22/2017
    • Support on 06/15/2017
    • Support on 06/14/2017
    • Support on 06/13/2017
    • Resistance on 04/12/2017
    • Resistance on 04/11/2017
    • Resistance on 02/02/2017
    • Resistance on 02/01/2017
    • Resistance on 01/27/2017
    • Resistance on 01/26/2017
    • Resistance on 01/25/2017
    • Resistance on 11/29/2016
    • Support on 11/25/2016
    • Support on 11/23/2016
    • Support on 11/21/2016
    • Resistance on 11/14/2016
    • Resistance on 11/11/2016
    • Support on 10/03/2016
    • Trough on 08/17/2016
    • Trough on 08/16/2016
    • Support on 08/16/2016
    • Support on 08/15/2016
  • Ending of entry zone (1.6550)
    • Resistance on 04/17/2017
    • Resistance on 04/14/2017
    • Resistance on 04/10/2017
    • Resistance on 04/07/2017
    • Resistance on 04/06/2017
    • Resistance on 03/28/2017
    • Resistance on 03/27/2017
    • Support on 02/01/2017
    • Resistance on 01/24/2017
    • Resistance on 01/23/2017
    • Resistance on 01/11/2017
    • Support on 11/29/2016

DateJuly 15, 2017 - 21:52
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of uptrend.

Technical analysis:

  • A peak is formed in daily chart at 1.7115 on 07/07/2017, so more losses minimum to Trend Hunter Buy Zone (1.6710 to 1.6550) 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 38.

Take Profits:

  1. 1.6860
  2. 1.7120
  3. 1.7455
  4. 1.7650
  5. 1.7860
  6. 1.8135
  7. 1.8300
  8. 1.8660
  9. 1.9030
  10. 1.9440
  11. 1.9730
  12. 2.0000
  13. 2.0535
  14. 2.1470
  15. 2.2400
Click on the level to view price action history.