Ready to Start Trading?

Open a Live or Demo account online in just a few minutes and start trading on Forex and other markets.

Apply online

Any Questions?
Contact us:

phone: +1 849 9370815

email: sales@tradersway.com

Join Us in Just 1 Minute!

Download MT4
MT5 Terminal

Long-Term Range on GBP/AUD (October 10, 2013)

GBP/AUD has been moving sideways on its 4-hour chart, as it found support at 1.6900 and resistance at 1.7400.

Right now, it is testing the bottom of the range while stochastic is starting to move out of the oversold region. This suggests that a bounce could take place, possibly until the middle of the range around 1.7150.

Data from the UK has been weak though, with manufacturing production falling by 1.1% recently. Meanwhile, jobs data from Australia has been mixed, as hiring was weaker than expected but the jobless rate improved from 5.8% to 5.6% in September.

131010_gbpaud

Going long at 1.6900 with a 100-pip stop and a target at 1.7150 would be a 2.5-to-1 trade then going for the top of the range at 1.7400 would be a 5:1 trade.

By Kate Curtis from Trader's Way

Any Questions?
Email Us: sales@tradersway.com

bob@tradersway.pro
Quotations
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread

2023 Martin Luther King Holiday Schedule

Due to the Martin King Holiday on 16 January, 2023, market activity and liquidity may be lower than usual....

Learn more

Join Us in Just 1 Minute!

Download MT4MT5 TerminalMetaTrader for Mac
TradersWay's Facebook TradersWay's Telegram Channel TradersWay's Twitter TradersWay's Instagram
bob@tradersway.pro