GBP/AUD – Keep an eye on 1.6190-1.6180

Monthly chart – Watch for a break below or rebound from 1.6190… upside to be capped around 1.75, below 1.6190 would expose 1.5789 Oct 2016 low

GBPAUD M1 (07-31-2017 1926).png

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Euro erases losses, breaks falling trend line

1-hour chart… nice breach of the falling trend line, we would have a sort of bullish flag breakout of the current hourly candle closes above the falling trend line. Draghi is trying hard to kill the EUR rally, but it isn’t working… everyone knows taper has already begun for countries like Germany as the ECB has fallen short of the mandatory bond purchases for three months to June.

EURUSD H1 (07-20-2017 1814).png