Hello everyone,
Today I would like to share with you one of my long-term trading plans. This trading plan is based on the GBP/AUD currency pair and is expected to fulfil itself in the next couple of weeks or maybe even for a few months - depending on the strength of the upcoming move.
A full technical analysis regarding this plan can be seen on our Youtube channel.
Also you can join our Telegram channel if you want to receive Free Live Signals.
Below I will mark the zones in numbers and I will do a short fundamental analysis for the most important news events of this month.
Zones:
Monthly Resistance Area: 1.8190 - 1.8550
Monthly Resistance Area 2: 1.9935 - 2.0420
Daily Consolidation Area: 1.8425 - 1.8210
Daily Consolidation Area 2: 1.7943 - 1.7753
Weekly Support Area - Target 1: 1.7355 - 1.7234
Weekly Support Area - Target 2: 1.6075 - 1.5885
Fundamental Analysis:
Thursday, September 13th
01:30 GMT (04:30 Bulgarian time)
AUD Employment Change and AUD Unemployment Rate reports
It is expected to stay unchanged , but keep the reports in mind as they can bring a short-term volatility to the markets.
11:00 GMT (14:00 Bulgarian time)
GBP Bank of England Bank Rate and GBP BOE Asset Purchase Target
The bank rate is expected to remain at 0.75%, so there should not be any surprise changes on the market. This rate is already priced in, so actually this can boost a downfall on the GBP.
Friday, September 14th
GBP BOE’s Carney Speaks in Dublin
An important speech from the BOE president which can give some hints regarding Great Britains’ economy and the future goals, especially in the complex environment created by Brexit. Make sure to listen to that speech.
Wednesday, September 19th
GBP Consumer Price Index and GBP Core Consumer Price Index
Two important reports coming next week. Make sure to calculate any possible changes and import them in to your trading and accordingly to manage your positions. Possibility of a short term volatility.
The team of DMTrading Bulgaria wishes you a great and profitable week! :)