A full scale attack on the markets - Profits Await [GBP/AUD]
Hello traders,
My vacation is over and it is time to get back on the horse and forge our next full scale attack on the market! I am relaxed and highly motivated to extract as much profit as I can this week. Are you?
This week I want to share with you one of my trading plans, based on the GBP/AUD currency pair. You can check the full technical analysis in my Weekly Trading Plan video on Youtube.
Here I would like to add the different zones/levels in numbers as well as a short fundamental analysis for this week.
Daily Resistance Area: 1.7950 to 1.8070
Target Levels:
Weekly Target Level: 1.7655
Long Term Target Level: 1.7400
Levels to watch:
Upper Small Resistance: 1.7875
Lower Small Support: 1.7800
*Important Area*
Possible Support: 1.7765 to 1.7745
That is all regarding the levels, now lets’ check out the fundamentals that await:
Fundamental Analysis:
There are not a lot events/reports with high importance this week, but there is 1 worth mentioning.
Thursday - July 5th
10:00 GMT (12:00 Bulgarian Time)
GBP BOE Governor Carney Speaks in Newcastle
On Thursday we have a speech scheduled from the BoE Governor. Those type of speeches usually cause volatility on the markets, so I would advice you to be careful when the time comes. I usually tend to close some percentage of my positions before those speeches as anything can happen. Just a reminder - listen carefully as to what Mr. Carney has to say as it can give out hints for the future of Britain’s economy and this will most likely affect the price of the GBP.
There are a few other reports coming out like AUD Trade Balance, GBP Unit Labor Costs, GBP Markit/CIPS Composite PMI. Those reports are likely to cause some volatility, but I don’t expect them to change the price movement direction, but keep them in mind.
That is all! I will do my best to bring some profits home this week.
I wish everyone a profitable and nice week! :)
My vacation is over and it is time to get back on the horse and forge our next full scale attack on the market! I am relaxed and highly motivated to extract as much profit as I can this week. Are you?
This week I want to share with you one of my trading plans, based on the GBP/AUD currency pair. You can check the full technical analysis in my Weekly Trading Plan video on Youtube.
Here I would like to add the different zones/levels in numbers as well as a short fundamental analysis for this week.
Daily Resistance Area: 1.7950 to 1.8070
Target Levels:
Weekly Target Level: 1.7655
Long Term Target Level: 1.7400
Levels to watch:
Upper Small Resistance: 1.7875
Lower Small Support: 1.7800
*Important Area*
Possible Support: 1.7765 to 1.7745
That is all regarding the levels, now lets’ check out the fundamentals that await:
Fundamental Analysis:
There are not a lot events/reports with high importance this week, but there is 1 worth mentioning.
Thursday - July 5th
10:00 GMT (12:00 Bulgarian Time)
GBP BOE Governor Carney Speaks in Newcastle
On Thursday we have a speech scheduled from the BoE Governor. Those type of speeches usually cause volatility on the markets, so I would advice you to be careful when the time comes. I usually tend to close some percentage of my positions before those speeches as anything can happen. Just a reminder - listen carefully as to what Mr. Carney has to say as it can give out hints for the future of Britain’s economy and this will most likely affect the price of the GBP.
There are a few other reports coming out like AUD Trade Balance, GBP Unit Labor Costs, GBP Markit/CIPS Composite PMI. Those reports are likely to cause some volatility, but I don’t expect them to change the price movement direction, but keep them in mind.
That is all! I will do my best to bring some profits home this week.
I wish everyone a profitable and nice week! :)
