GBPAUD Long
Technical Analysis:
Price bouncing off two black daily trendlines.
It is also bouncing off a H4 bottom trend line (Red)
MACD Divergence on H4.
Fundamental Analysis:
While the pound isn't the strongest currency atm, AUD is even weaker currently.
Conclusion: Nice little setup for 100 pips minimum.
Trade at your own risk.
Flipside idea: If price bounces off third touch of descending daily trendline, I will look to short it.
Price bouncing off two black daily trendlines.
It is also bouncing off a H4 bottom trend line (Red)
MACD Divergence on H4.
Fundamental Analysis:
While the pound isn't the strongest currency atm, AUD is even weaker currently.
Conclusion: Nice little setup for 100 pips minimum.
Trade at your own risk.
Flipside idea: If price bounces off third touch of descending daily trendline, I will look to short it.
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