GBP/UAD _ swing trade long idea
GBP/AUD has retraced from its YTD highs in three waves, and hinted at a swing low with a Doji yesterday.
Moreover, the doji formed at a long-term trendline, historical high and 50% retracement level whilst RSI (2) was in the oversold level.
The bias remains bullish whilst prices remain this week's low, with an interim target near 1.9700. Given its established uptrend, an open upside target could also be considered.
Moreover, the doji formed at a long-term trendline, historical high and 50% retracement level whilst RSI (2) was in the oversold level.
The bias remains bullish whilst prices remain this week's low, with an interim target near 1.9700. Given its established uptrend, an open upside target could also be considered.