Trading recommendations for EUR/AUD and GBP/CAD
2023.01.20 09:23
Trading recommendations for EUR/AUD and GBP/CAD
GBP/CAD fluctuates between 1.6392 and 1.6767, or between 1.6892 and 1.7300. GBP/CAD trades between 1.6468 and 1.6796 today and one month later, or between 1.6796 and 1.6912 and 1.7095.
Between 1.6146, 1.6468, 1.6796, 1.6912, and 1.7095, there is a larger range.
GBP/CAD trades between 1.6448 and 1.6796 overall. The price of GBP/CAD is oversold and low at 1.6448, while at 1.6796, it becomes excessively high. GBP/CAD will struggle to break and maintain its price above 1.6796 if it is too high.
Longs should apply to the range of 1.6581 to 1.6796 if the price falls below 1.6511. DDec, as written. 14 EUR/AUD averages are 1.5543 and 1.5576, respectively, with 1.5382 and 1.5364 above and below.
1.5381, 1.5407, 1.5469, 1.5598, and 1.5609 are the current averages. Shorting the high 1.5700s and low 1.5800s with a goal of 1.5686 is the best trading strategy.
The price of EUR/AUD at 1.5400s and 1.5300s is too low, and it will not be able to maintain those levels as EUR/AUD needs to move higher.
On a short-only strategy, EUR/AUD must overall remain within a 200 pip range between 1.5686 and 1.5400, and 1.5300. As GBP/AUD decreased from the reported 1.7999 to 1.7700 and 200 pips, the trade that performed the best was made.
GBP/CAD is acceptable but nothing special, while EUR/AUD is not doing much.
