GBPAUD Forecast And Technical Analysis

0
196
GBPAUD Forecast Update And Follow Up

Hi Traders! GBPAUD forecast and technical analysis is here. The way I would like to analyze the chart for setups is based on multi-timeframe confirmations because in my POV if we get more evidences on different timeframes for the same direction then it makes the setup much more reliable. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club Spoiler alert – free memberships are available! This analysis will be based on price action trading (if you want to learn about price action trading, you can watch this video here).

Note: We have Non Form Payroll news release today, please pay attention to that.

GBPAUD D1(Daily) Chart Analysis – Strong Support Zone, Psychological Level, Bullish Divergence

On the daily chart, the price which is moving lower has currently reached a support zone. In addition to this, the 1.80 psychological area coincides with this support zone which makes this area a strong support zone for us. Also, we have a bullish divergence that has formed between the first low that has formed on 4th June 2020 and the second low that has formed on 30th June 2020 based on the moving averages of the MACD indicator and also on the RSI indicator which we may consider as evidence of bullish pressure. We may now move down to lower timeframes and see if we can find evidences supporting this bullish view.

GBPAUD Forecast And Technical Analysis

 

 

GBPAUD H4(4 Hours) Chart Analysis – Bullish Divergence, ADX Indicator, Downtrend Line Breakout

Looking at the H4 chart we could see that we have a bullish divergence that has formed between the first low that has formed on 19th June 2020 and the second low that has formed on 30th June 2020 based on the moving averages of the MACD indicator which we may consider as evidence of bullish pressure. Also the ADX indicator gave a bullish signal at the cross of +DI (green line) versus -DI (red line) and the main signal line (silver line) reads value over 25, we may consider this as another evidence of bullish pressure. In addition to this, the price has also broken above the most recent downtrend line which we may consider as yet another evidence of bullish pressure. So the bottom line here is that the H4 chart has evidences supporting the bullish view.

GBPAUD Forecast And Technical Analysis

 

 

GBPAUD H1(1 Hour) Chart Analysis – Bullish Trend Pattern

On the H1 chart, the price which is moving higher has created a bullish trend pattern in the form of three higher highs, higher lows which we may consider as evidence of bullish pressure. Currently, it looks like a correction is happening, once this correction completes itself we may then expect further continuation higher.

GBPAUD Forecast And Technical Analysis

 

Technical Analysis & Forecast Summary

GBPAUD D1(Daily) Chart Analysis 

  • Strong Support Zone, Psychological Level, Bullish Divergence

GBPAUD H4(4 Hours) Chart Analysis 

  • Bullish Divergence, ADX Indicator, Downtrend Line Breakout

GBPAUD H1(1 Hour) Chart Analysis

  • Bullish Trend Pattern

Trading Tips

It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.

Also don’t forget to protect your buy trade using a stop loss and make sure to set a target and keep a proper risk/reward ratio.

You will also find a pretty extensive database of educational materials here in the blog – just use the search or check out the Forex Education section above.

Not sure how to enter a trade? Spot reversals (bounces)? Not sure how to spot breakouts?

I invite you to join me in my live market analysis, on daily basis, and improve your trading with us.

Join Traders Academy Club Now

Also, you can get one of my strategies free of charge. You will find all the details here

 

If you have any further questions, don’t hesitate to drop a comment below!

 

To your success,

Vladimir Ribakov
Certified Financial Technician

Click To Join Our Community Telegram Group

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments