Monthly Archives: June 2018

Contradicting Charts in AUD/USD

At the end of last week, AUD/USD made a bullish reversal after having traded in a bearish trend for some time. According to the H1 chart, the main trend is bearish, but the intraday trend is bullish. Yesterday, we saw AUD/USD slip 50 pips lower. If we take into account the bigger trend, then this…

GBPUSD bounces off 7-month low of 1.3100; finds obstacle on 20-day SMA

GBPUSD has been trading higher following the rebound on the seven-month low near the 1.3100 psychological level. The price is set to complete the fourth bullish day in a row, however, the 20-day simple moving average is acting as major resistance barrier for the bulls. The neutral to the bearish…

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