Daily Forex Chart Art - Jan. 7, 2016

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    GBP/AUD: 4-hour Here’s one for the pound bears! Right now GBP/AUD is having trouble breaking past the resistance, especially since it’s being supported by the 100 and 200 SMAs on the 4-hour chart. The cherry on top of this sweet sundae is that Stochastic is hanging out at the overbought territory. A tight stop above the mid-channel line could get you a decent reward-to-risk ratio but I wouldn’t recommend tightening anything with this pair. After all, currency crosses tend to be more volatile

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