GBPAUD Testing the Bottom
Aussie has long been a favourite on this website and its performance speaks for itself. But rather than pitting Aussie against the weak currencies, lets assess its potential against the sterling, whose robust ways suggest more upside for the Aussie against the British currency. The weekly chart shows the oscillators call for a bullish divergence. Sterling has been firming largely due to improved risk appetite but Aussies more fundamental superiority enabled it to quickly recover from negative retail sales. The latest AUDJDPYHotChart took 2 days to be in the money. GBPAUD is more of a longer term play for the 2.097 and 2.11 target to emerge. For more bang out of your buck, consider AUDGBP instead of GBPAUD. This is not only cheaper but offers more pips per capital used.
Jun 22, 2023 16:46 | by Ashraf LaidiI mentioned last week on here on how and why both gold and USD are falling together. Since then, the trend accelerated alongside another detail.
Mar 17, 2023 21:28 | by Ashraf Laidi.
Jan 11, 2023 10:57 | by Ashraf LaidiIf the DAX40 maintains its habit of extending 13% above its 200 DMA, then current upside may extend to as high as 15300, just below the 76% retracement of the decline from the Jan 2022 high to...