Forex Market Analysis Report - 11/15/18 – Price Entered and Left A Daily Demand Zone On GBP/AUD
The pound remains under pressure due to the uncertainty about Brexit. Dominic Raab’s resignation this morning as Brexit secretary really hurts the Brexit movement. UK PM Theresa May’s stood firm on her position and defended her Brexit plan, arguing that it delivers on what the people voted for. As a result, the Pound pairs had their worst performance in months.
The day trade set-up didn't work out from 10 days ago didn't work out,
so lets go to the charts to see if there is another set-up on the GBP/AUD pair after the massive move down today.
Monthly Chart (Curve Time Frame) - monthly supply is 2.0000 and monthly demand is 1.6300.
Weekly Chart (Trend Time Frame) – the trend is up based on price making higher highs and higher lows,
but what I like is price just touched the weekly demand at 1.7430.
Daily Chart (Entry Time Frame) – the chart suggest to go long at one of the two daily demand zones.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
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by rollandthomas
