GBPAUD 80+ Pips Profit : AUD Remains Strong
Tues 25th July 2023 : Daily Currency Strength Analysis
Today we’re looking at Trading Setups in:
- AUDJPY (Primary Focus Pair)
- GBPAUD (Covered In Video)
- EURAUD (Covered In Video)
Our Interest (pending order)/Open Interest (live position)
| NA | Price | Pips +/- | R/R (Max/Min) |
|---|---|---|---|
| Entry Price | |||
| Stop Loss (Min) | |||
| Stop Loss (Max) | |||
| Profit 1 | |||
| Profit 2 |
Risk warning: Trading carries a high degree of risk. Read more here.
Our live forex strength vs weakness tables shows us that AUD is currently a strong currency with confluence from both tables.
We featured GBPAUD here on the 20th July. It’s since triggered and is currently at 80+ pips of profit.
Sticking with AUD strength, JPY tops our day traders table as the weakest currency, meaning we could look for long ideas on AUDJPY.
AUDJPY is currently bullish with price making hew highs and lows on our lower time frames,
However, the price is currently trading at a trend line resistance and horizontal resistance around 59.50.
If price were to break through this level of resistance it could then become of interest to look for long trades.
Buyers could look for longs into the key swing highs at 98.50.
Technical Observations:
- AUD is strong on both tables.
- AUDJPY has been trading in an upward trend.
- Price is above the daily 200 moving averages.
- Price needs to trade through resistance.
Todays 9am (BST) Forex Strength Vs Weakness Tables:
