GBPAUD Testing the Bottom: Hot-Chart

Ashraf -

Could you please elaborate on your intent with this Hot Chart?

I am also confused about it's message.

Personally, I took the references to the GBPAUD 2.097 and 2.11 targets PLUS the "red square" on the chart highlighting the zone between 2.2492 and 2.5000 as a clear indication of upside potential during the next 2 - 3 months or so. Not to mentioin the Stochastic crossovers in the "oversold" zone . . .

But now that I am seeing your reply to Sam on April 2 (haven't read these posts before now) refering to SHORTING GBPAUD (huh?) I am COMPLETELY confused by this call.

Please elaborate.

Thank You.

Hi Ashraf,

I do not quite get what you mean by "GBPAUD is more of a longer term play for the 2.097 and 2.11 target to emerge". Do you mean that one shoud use these targets as entry to sell GBPAUD?

Second, to get a real bang for the buck, if I am bullish on AUD (and less bullish on sterling), what do you think of buying AUSSIE200 from my GBP based CFD account?

Look forward to meet you at the 2 day course after next week.

thanks

Glory, I still think the March lows will be retested in in mid to late Q2.

I also have a feeling that the general rally against the USD will probably last until mid month before sharply reversing....

thank you

Hi Ashraf,

I recently attended your seminar in Spore(Mar'09) and in one of your chart you showed 2 months cycle on the equities i.e Mar 6 was the lowest. Currently the index is moving up and expect the next sell off will be in May based on the two months cycle. With the end of G-20 meeting with a positive note do you think the your view still stands or the bottom is yet to be seen? appreciate your view.

Tks.

ft, i think there's a 75% chance of seeing cable reaching $1.49 before mid month.

Ashraf

Hello Ashraf,

What's your take on GBP.USD - do you think it will manage to break the 1.4770/80 resistance and move to retest 1,49?

Thanks,

Ashraf,
Great site & insight.
I think USD/JPY breaks 100, just takes some work to get through since it is technically a critical level (including breaking through 200 dy MA.

I'm a bit concerned about gold. I'm long and today it is breaking the upward channel trend? What do you make of it. Is this just a reaction to maybe IFM selling of gold to raise cash or ease of general "fear" in the markets. I think long term gold goes higher on inflation but a pull back to 880 means a lot of pain, & could it be a the beginning of trend reversal or sideways movement?

Thanks for your comments!

PK

Sam, AUDUSD still faces upside towards 72 cent but we may not see that until next week. As for shorting GBPAUD, you can go about it by SHORTING GBPUSD and BUYING AUDUSD. A more expensive alternative is SHORTING GBPJPY and BUYING AUDJPY

Ashraf