Monday, December 15, 2014

New Signal GBP/AUD

*Trade Update:  We are out of this position as GBP/AUD approached the figure of 1.91000 picking up 36.3 Pips.

As of 12/15/2014 19:48 EST:

We have identified a Long Scalp trade in GBP/AUD with an entry of 1.90578 of higher.  This is our second signal for this pair today.  The Global Currency Scalper if looking for GBP/AUD to break its short-term down trend-line and reestablish its longer-term uptrend.

With the  RBA making the following announcements from its minutes: "repeats most prudent course is period of stability in interest rates" and "more AUD depreciation likely needed to achieve balanced growth" we feel the GBP/AUD is primed to rally.  This rally will only resume once that short-term downtrend line is broken by 5 - 15 Pips.

Stop will be set at 1.89650 with forecast targets of the 23.6% Fibonacci line 1.90679, 1.90918, 1.91031 as well as the 1 hour chart top.

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