GBPAUD - Bearish Pinbar Daily Chart - Bearish Momentum
In this post I am going to show you my forex view for next week, July 29th to 2nd August. This month has been a profitable month for me and because this is almost the end of the month, I need to make sure I won't lose my profits.
This week is pretty quiet (except for fundamentals) I do not see any trading opportunities on daily chart except for GBPAUD pair. So I am going to focus only for this pair.
On daily chart, there is a bearish pinbar. It is likely that the price would resume the down trend movement.
On a lower time frame, 4 hour chart, there is a bearish divergence. This might be a signal to go short.
I prefer to sell this pair. I will wait and see until the end of next week, expecting the price to go lower, targeting 1.77 level.
Good luck, happy trading!
Rico Ferdinand Yapotra
Chart Disclaimer : This is not advice or recommendation to trade. It is pure educational and general information only. Do your own research before you decide to buy/sell the markets. Be aware of the risks.