AdamFx42's Blog

Avatar

GBP/AUD to break out of bearish channel

Gbp/Aud is looking strong and ready for a next leg higher
This next leg will bring it above the upper border of a bearish channel
as we can see on the weekly chart:
Gbp/Aud weekly chart
The last weekly candle is a hammer - which is a bullish candle pattern,
the MACD signal is bullish, and the RSI is bullish, too
The 61.8% fibonacci expansion target of last weekly move lies above the upper border
of the weekly bearish channel that the pair is currently in
On the daily chart I have drawn out my pr…
Read full story
Translate to English Show original
AdamFx42 avatar
AdamFx42 5 Nov.

The pair is finally testing the upper border of the weekly bearish channel,
a breakout could trigger a stronger move up

orto leave comments
Avatar

Weekly trendline support for AUD/NZD

Aud/Nzd still looks definetely bullish
MACD and RSI are both bullish on the weekly chart
and the price is now supported by a weekly bullish trendline
The 61.8% fibonacci expansion level of the last weekly move should be the next weekly target
and it lies above the previous highs at 1.1335
Aud/Nzd weekly chart
On the daily chart we find that the 61.8% fibonacci expansion level of the last daily move
coincides with the lower border of the weekly trendline
and this combination should strengthen sup…
Read full story
Translate to English Show original
AdamFx42 avatar
AdamFx42 19 Oct.

Weekly trendline has indeed held the drop in price as I predicted
1.10 is now still support area  and the price should move up towards target here

AdamFx42 avatar
AdamFx42 30 Oct.

Price moving as predicted now - up towards target area, and has already taken out previous highs

AdamFx42 avatar
AdamFx42 5 Nov.

Price has tested trendline and bounced back up - looks to retest it again now,
hopefully the move up will follow then

orto leave comments