GBP/AUD : The Currency Pair has follow DOW IDEAL Market Picture on a regular basis i.e. Bottom-Uptrend-Top-Downtrend.

The Previous Bottom was seen on 16th July 2019 which was till 12 September 2019, then we saw an Uptrend from 13th of September 2019 to  16th April 2020 we saw uptrend, after an uptrend we need to see a Top. Top formation was seen from 18th March 2020 till 3rd April 2020, Downtrend started from 17th April 2020 which continued till  11th December 2020. A complete Dow Ideal Picture

This has been followed many times previously as well.

A new Formation is seen recently where Accumulation is seen from 7th Jan 2021

Volume is supportive on the upside which is suggesting Accumulation.

It would be the right period to accumulate the Currency Pair for a good upward move.

Overall for Confirmation Pair is trading above its 50 EMA which is a Positive sign.

RSI is Supporting the move on the upside  where divergences are not seen yet.

MACD above zero and crossing is a good sign for upside.

Pair Trading above ICHIMOKU CLOUD again a Good Strong sign.

Pair has been respecting the Trend Line which can be used as support for Future.

Overall Good Pair to Accumulate for Long term any Dip will be a great opportunity to buy.

Accumulation Period

Jul 08 2021

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