Forex Trade Signals And Setups

Published 11/17/2011, 04:10 AM
Updated 05/14/2017, 06:45 AM
GBP/USD
-
AUD/USD
-
AUD/USD – Corrective but Weakening

:

After failing above 1.0700, the Aussie has been generally impulsive to the downside with elements of corrective price action. Lately the 20ema has been acting as dynamic resistance on pullbacks so this offers traders a good opportunity to enter low risk shorts. Watch for price action signals off parity for any rejection here could be significant while a breakdown here suggests .9900 will come under attack quickly.



GBP/USD – Breaking Down:

As we wrote in our previous forex trade signals and setups, the GBPUSD rejected off a key role-reversal level at 1.5845 and has since moved lower.  Price is fast approaching 1.5681 which was a solid resistance and support level back in early Oct. Any breakdown here would suggest 1.5550 is up next while pullbacks to the 20ema dynamic resistance would be a great opportunity to add onto or enter new shorts.


Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.