Market Outlook
Forex Technical Analysis: Dandruff Pattern for GBPAUD?

Forex Technical Analysis: Dandruff Pattern for GBPAUD?

15-12-2021 09:34

ZFX – Today’s analysis will be focusing on forex, indices, cryptocurrencies (LTC), and American Stocks (Visa). Also, we’ll be sharing with you a trading idea (signal) for GBPAUD that just might be a good insight for all you traders out there.

Every morning during the London session, ZFX brings you a technical analysis or outlook in the form of a video. Have a look at it here.

So, How Does the Pre-London Analysis Look Like Today?

Before you start trading, you will need to do an analysis. So, here’s a summary of today’s outlook for today (15/12/2021) brought to you by our  beloved ZFX analysts:

XAUUSD Technical Analysis – Commodities

XAUUSD (Gold) fell to a support level at 1767. At the moment of writing, it is still at the ranging area as seen in the graph above. When it breaks through and closes below the support level, there is a big possibility that XAUUSD will fall further down to 1724.

LTCUSD Technical Analysis – Cryptocurrency

LTCUSD is still in a bearish sentiment. Litecoin continues to shape a lower high and a lower low as can be seen in H4 where it already broke the H4 support area and is preparing for a retest to decline further down to a support level at 140.

Visa Technical Analysis – American Stocks

Visa stocks in a general sense in still in a bearish trend. However, in the short term, we can see that it has successfully broken the key level at 207 and is now heading towards a 220 key level.

Trading Idea – GBPAUD (Sell Limit)

Order: Sell Limit
Entry: 1.87580
Stop Loss: 1.89400
Target 1:  1.85500 (50% + BE)
Target 2: 1.84000(25%)
Target 3: 1.820000(25%)
Risk total: 1-2% Equity (High Risk Setup)
Reason: Dandruff/Head and shoulder pattern/Quassimodo Level

Disclaimer: Trading ideas by this website are provided as general market information for educational purposes. There is a risk of losing money in trading. Past performance is not necessarily indicative of future results.

Risk Warning: The above content is for reference only, and does not represent ZFX’s position. ZFX does not assume any form of loss caused by any trading operations carried out in accordance with this article. Please be firm in your thinking and do the corresponding risk control.

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