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.
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Nov 11, 2024 13:38 | by Ashraf LaidiThere are two important messages from this chart. I will share them with the WhatsApp Broadcast Group shortly..
Could you please elaborate on your intent with this Hot Chart?
I am also confused about it's message.
Personally, I took the references to the GBPAUD 2.097 and 2.11 targets PLUS the "red square" on the chart highlighting the zone between 2.2492 and 2.5000 as a clear indication of upside potential during the next 2 - 3 months or so. Not to mentioin the Stochastic crossovers in the "oversold" zone . . .
But now that I am seeing your reply to Sam on April 2 (haven't read these posts before now) refering to SHORTING GBPAUD (huh?) I am COMPLETELY confused by this call.
Please elaborate.
Thank You.
I do not quite get what you mean by "GBPAUD is more of a longer term play for the 2.097 and 2.11 target to emerge". Do you mean that one shoud use these targets as entry to sell GBPAUD?
Second, to get a real bang for the buck, if I am bullish on AUD (and less bullish on sterling), what do you think of buying AUSSIE200 from my GBP based CFD account?
Look forward to meet you at the 2 day course after next week.
thanks
I recently attended your seminar in Spore(Mar'09) and in one of your chart you showed 2 months cycle on the equities i.e Mar 6 was the lowest. Currently the index is moving up and expect the next sell off will be in May based on the two months cycle. With the end of G-20 meeting with a positive note do you think the your view still stands or the bottom is yet to be seen? appreciate your view.
Tks.
Ashraf
What's your take on GBP.USD - do you think it will manage to break the 1.4770/80 resistance and move to retest 1,49?
Thanks,
Great site & insight.
I think USD/JPY breaks 100, just takes some work to get through since it is technically a critical level (including breaking through 200 dy MA.
I'm a bit concerned about gold. I'm long and today it is breaking the upward channel trend? What do you make of it. Is this just a reaction to maybe IFM selling of gold to raise cash or ease of general "fear" in the markets. I think long term gold goes higher on inflation but a pull back to 880 means a lot of pain, & could it be a the beginning of trend reversal or sideways movement?
Thanks for your comments!
PK
Ashraf