The beginning of a sideways market
Today we are facing a typical sideways ranging market.
As we can see NONE of the major pairs does have it's trends in line.
So the chance for a trend continuation on any symbol is pretty small.
GBP and AUD are the only exceptions in this balanced market situation so let's check this pair in detail.
(Displayed strength values vary a bit due to real-time changes when taking those screenshots)
From a Delta perspective this looks pretty promising because this clear difference has been established
not long ago so there is a chance to catch the beginning of a trend move on this pair.
So let's check the price in relation to it's next support and resistance levels.
The first support level stopped the price already and there are two more levels which are pretty close.
So from this perspective GBPAUD is stuck in a massive support zone and it's better to stay out.
This is how all three steps look in one research chart.
We recommend waiting until the major trends turn in line to find interesting trading opportunities.
Until then stay at the sideline and enjoy your day off.
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