GBPCAD Target HIT 

We traded this pair on the D1 & H4 timeframe. Price found support at level 1.65545 and broke through our inner and outer trend lines. We expected the price to continue the rally to the upside past the previous high.

The target was set at a price point of 1.69926.

Please note that this should not be used as advice, but support that can assist clients to make a more informed decision. Risk Management must be applied on a strict basis.

The NZDJPY Perfomance

Traders should be reminded of this pair, we have been monitoring and following it for some time. We are trading a major level move which comes from the Monthly and Weekly timeframe. Price has pushed through the resistance at price point 90.019 creating another higher high. We are currently retracing back into the Golden Ratio. Traders should use the correlation to EURJPY. Seeing the upside as not all forex pairs move at the same time.

Target 1 is still set at a price point of 91.647.

Please note that this should not be used as advice. Support that can assist clients to make a more informed decision Risk Management must be applied on a strict basis.

The AUDUSD Performance

The AUD has strengthened by the weakness of the US Dollar after the CPI release to reach the first Target at price point 0.64994. We look to take another position to target 2 at price point 0.66558.

Price is resisting at target 1 with a high probability of returning to the fibonacci golden ratio zone. Traders should continue to monitor the strength of the US dollar (DXY) and remember that we are not trading the overall movement of this pair but the minor levels.

Please note that this should not be used as advice, but support that can assist clients to make a more informed decision. Risk Management must be applied on a strict basis.

Final Thoughts On Today’s Analysis

In conclusion, the recent analysis of GBPCAD has proven accurate as the price successfully reached the predetermined target of 1.69926 after finding support at 1.65545 and breaking through key trend lines. This successful trade exemplifies the effectiveness of the D1 and H4 timeframe strategies employed.