GBPAUD Weekly Forex Forecast 25th November to 1st December by yshashmi37 on TradingView.com

Midterm forecast:

There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.7940 would begin in Midterm.
We will close our open trades, if the Midterm level 1.7940 is broken.
Technical analysis:

The RSI support #1 at 50 is broken, so the probability of beginning of downtrend is increased.
While the RSI resistance #2 at 50 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 1.7475 on 11/16/2018, so more gains to resistance(s) 1.7800 and maximum to Major Resistance (1.7940) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 42.

Share This