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.