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HomeForex EducationChart Artwork: Pattern Continuation Trades On GBP/AUD And AUD/NZD

Chart Artwork: Pattern Continuation Trades On GBP/AUD And AUD/NZD

Welcome to mid-week buying and selling, errbody!

Really feel like taking a look at comdolls at present?

I hope you might be as a result of AUD/NZD and GBP/AUD simply hit doable pullback ranges!

AUD/NZD 1-hour Forex Chart

AUD/NZD 1-hour Foreign exchange Chart

AUD bulls have been making pips rain since final week when AUD/NZD discovered support at 1.0975.

The pair is now buying and selling nearer to 1.1120 after bouncing from the 50% Fibonacci level of this week’s upswing.

As you’ll be able to see, the 50% Fib can also be conveniently near the 100 SMA and a damaged resistance zone on the 1-hour timeframe.

Are we taking a look at uptrend continuation over right here? AUD bulls can begin scaling in at present ranges and goal the 1.1140 highs if not new weekly highs.

In case you’d moderately await extra affirmation, although, then you may also await a little bit of bullish momentum from the Fib bounce earlier than leaping in.

GBP/AUD 1-hour Forex Chart

GBP/AUD 1-hour Foreign exchange Chart

SMA alert! GBP/AUD is flirting with the 1-hour chart’s 200 SMA proper across the 1.0400 psychological stage.

If that’s not thrilling sufficient for ya, GBP/AUD’s present worth additionally traces up with a trend line resistance and the 50% Fibonacci pullback of final week’s downtrend.

Watch how GBP/AUD bulls and bears deal with the 1.0400 zone!

Momentum above present ranges might drag GBP again right down to its earlier lows above 1.7200.

If GBP/AUD manages to interrupt above its development line resistance, although, then y’all higher be prepared for a doable journey to the 1.7450 and even the 1.7550 earlier areas of curiosity!

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