New Currency

Good Morning Dynamic Traders

Hope you all have enjoyed a good start to the week!

I have decided to follow GBPAUD this week. If you look at the day chart below you can see that price suffered a big drop from the end of the last year, but has slowly been finding some strength since May. The MACD has been showing convergence from March and long with the strong RN, help to explain the slow climb in price.
However this climb apparently seems to be short lived as price is currently falling.













It will be interesting to see if the same RN will help price out again.

Tomorrow I will go through how we might have been able to grab some of those profits.

Happy Trading

Richard Monnery