The Best Cross to Trade now

10

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GBPAUD
Wed, Sep 9 2009, 05:49 GMT
by Rajoo C
Precise Trader

Market Insight
The Hourly Trend is Turning Up while 19060 level holds. GBP is the Strongest Cross and AUD is the Weakest Cross now during Asian Session .The Hourly Oscillators are turning bullish with ADX getting ready to rise with the price and the price is Below the MA on the Hourly but above on the 5 min. GBPUSD is trading near Res Zone 1 but we believe it will break and AUDUSD is trading near the Sup Zone 1 but we believe it will give way soon. GBPAUD has breached the Res Zone 1 which supports our analysis.
Patterns
We believe the Hourly Price has turned up and it should test the U turn Zone 19315 - 19365 level, to support our statement the price should not trade below 19160-19125 levels. GBP trade balance is out today.
Today’s Strategies
We prefer to LONG near 19160 with a STOP @ 19080 with a profit target of 19315-19365 levels. Trade strictly by the rules as the price has one more pullback to the Downside before any significant move Up.
Published on
Wed, Sep 9 2009, 05:55 GMT
Archive
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Published On Mon, Nov 23 2009, 06:33 GMT
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