Thread: Gbp/Aud
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analysis for today 12 / 3 / 2014
GBP/AUD (Daily Trade)
I think the movement is still in a bullish trend
retracement (38.2%) 1.8580
Retracement (50%) 1.8561
retracement (61,8%) 1.8541
Extensions (61.8%) 1.8743
Extensions (100.0%) 1.8805
Extensions (138.2%) 1.8867
Extensions (161.8%) 1.8906
calculation based on a Fibonacci retracement then today I choose buy
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The daily opening in the GBPAUD was higher than yesterday which allows us to mention the up trend that happened yesterday.
Due to the data shown on the chart the final arrow signal was a green up arrow below the price that indicates a bullish signal for the short term trading.
I think that the last opening at 1.8645 should be used as a take profit as it acts as a strong resistance which the price may face a difficulty to break it up At the last using a trade system is the best solution to enter trades after that you need to wait to see a clear blue line on the check indicator also the trader indicator must be green so that you can be assured that there is a bullish trend before you open buy positions that we need.
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the GBPAUD chart shows that the price currently is moving below the MBFX indicator's grey line and it is a resistance area. On looking at the last signal on vestro indicator there is a bearish saturation signal by going towards -100 level that may be a good indication to go south for now When you want to enter short so you can target the next level of support of the MBFX indicator at 1.8578 as first take profit and 1.8531 as your final target. All of this means that in case of the price didn't reach 1.8645 and it can be used as stoploss for your sell trades.![]()
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On the GBPAUD 1H chart a strong bullish trend is taking place now as the Blade oscillator located at 0.0039 level above the level of balance also the indicator is blue that is a strong indication of bullish direction.
On the chart we can see the slope of the moving average is moving down and we can consider the last bottom which drawn by it at 1.8612 is a stop loss in case we need it in buy orders and it is advised by the signal of the indicators.
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The first thing that I can see on the GBPAUD chart is the buying signal because the Blue arrow that you see from the EMA cross over indicator as the red line comes above the blue EMA which is a good buy indication.
The slopes of the QQE indicator moves above the fifty level and also it have a buy cross between the lines.
For my own trades I'm thinking about buy the pair and target the resistance that the price should reach at 1.8485 and I will not use any stop loss but I will close it if I got a sell cross and then an opposite arrow from EMA crossover indicator .
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As you can see on the GBPAUD pair there are a bullish intersection between EMA 9 and EMA 152 which can be a good signal for a starting of bullish trend.
About the Histogram indicator there is a buy signal shown on it by getting the green line which is come above the 0 level of Histogram.
Now checking the market emotions indicator can indicate a bearish signal by showing the red color which mean that the price have a negative emotions at this moment.
The line of Guru Angel indicator is clearly moving above the level 0 to show a green line which can be considered as a support for the bullish direction.
Going north is my favorite guess for the current day to reach the next resistance above the price which can be found at 1.8668 then according to that buy orders is now recommended over selling as long as there is no opposite signals is shown![]()
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Since the price is above the EMA indicator signal on the GBPAUD chart i do think that the price would be forming a bullish trend for the rest of the day.
The RSI indicator however shows a buy trend for the rest of the day.
The RSI indicator however shows a above the 35 line.
For more confirmation i believe that the green lines which are going up would tell us that the bulls are the ones controlling the market at the moment and it would be wise to take that into consideration.
Summing all that up the bulls would be a really good choice for us to follow but that of course until we face an opposite sell signal to get out of the trade that of course when the price becomes located under the wave in the EMA indicator .
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As you can see on the GBPAUD chart in front of us the blue lines position in the moment indicator is above the red line which means a good buying signal should be occurring .
Also the blue color shown in the oracle strength indicator means that a upwards direction signal is going to take place.
The oracle direction indicator could serve as a filtering tool with the blue colors shown on the arrows meaning that a upward signal would be taking place in short term trades.
Summing all that up in my opinion I do think that the trend would be taking a upward direction but that can only happen if the moment buy cross was taking place on the chart And as long as the ATR indicator keeps showing buying signals then without doubt the buy trades would be a better choice for entry.
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Monitoring the GBPAUD chart today I realized that a bullish trend is taking place and thats because of the green arrow shown on the chart also the price 1.8485 which is considered a bottom is a matter of fact the strong support preventing the price from penetrating it and heading below it and that is of course if the trend kept heading strongly in the bullish direction.
The parabolic sar dots however is currently appearing below the candle sticks meaning the price would be heading up for quite some time.
If we are to be taking buying trades as the main trades then the resistance found at 1.8665 would be the best as initial taking profit position and also there is a great chance for the price to head south after reaching it.
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Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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