Monthly Archives: July 2018

GBP/AUD Technical Outlook: Price Testing Major Trend Support

GBP/AUD has been trading within the confines of a well-defined ascending pitchfork formation extending off the 2016 low. Price is now testing slope support (red) and a weekly close below this threshold would risk substantial losses for the pair targeting confluence support at 1.7470/90 (52-week…

EURCAD Reacts to New Resistance at 1.5315

Last week I pointed out a pending breakout opportunity on the EURCAD. The range that had developed between 1.5315/30 support and 1.5480 resistance was starting to get stretched, suggestive of an imminent breakout.

Due to the ascending nature of the channel and the impulsive selloff late last mont…

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