We have outlooked several promising Forex pairs and the result can surprise you!
GBP/AUD has potential
Information is not investment advice
GBP/AUD is having a bumpy ride. The pair has been trading in a downtrend since May. This week the pair violated the resistance line of the channel and spiked towards 1.8200. However, the price failed to stay there and formed a pin bar candlestick. Together with the previous inside bar pattern the pin bar formed a so-called “fakey”, the reversal pattern, and then returned inside the channel. If the week ends below 1.7867, it would mean that the pair failed to break above 100-, 200- and 50-week MAs. Given all that and the negative data awaited from the UK, GBP/AUD is likely to retest 1.7860 and potentially even 1.7565. Selling is a preferred strategy until the pair is below 1.7860 (July 3-5 lows).
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus