🔍🌟"Analysis of the AUDNZD: The Latest Resistance Barrier" 📊💱
🕵️♂️ Let's dive into this forex currency pair, which is the exchange rate between the Australian Dollar and the New Zealand Dollar, and examine the latest entry points.
⏰ In the weekly timeframe, the exchange rate of these two currencies is currently in a range, experiencing fluctuations and reacting to the resistance and ceiling of the box, which is at point 1.10257.
🛑 On lower timeframes, we have a strong and suitable upward trend that has reached resistance. Currently, we are oscillating within a short-term box between 1.10257 and 1.09808.
📈 For a long position, we have a very important resistance ahead. Currently, due to the ranging ceiling of the weekly box, there is a possibility of breaking this resistance and reversing the trend from this area.
🤔 However, I prefer to wait for a pullback and then open a long position after hitting 1.10257. But it's better to wait a while at this point and then break the resistance. So after breaking this resistance, we will open the long position, and place our stop-loss at 1.09808. Because we are breaking the weekly resistance, we set a larger stop-loss to protect against fluctuations.
📉 For a short position, we have an upward trend line that needs to be broken for trading. After breaking this trend line, we even hit a pullback to the trend line, which increased the importance of the 1.09808 level. We can open a short-term short position after breaking this trend line. However, because we have a short position against the trend, it's better to set a small stop-loss to quickly exit the market.
🗓️ Also, today is Tuesday, the first day of the market. So if you're trading today, I suggest doing so with less risk. This way, if you encounter unexpected fluctuations, you'll lose less capital and can easily recover to your account.
🔝 The upcoming support levels are 1.09173, 1.08660, 1.08074, and the upcoming resistance levels, in case of breaking the weekly box, will be 1.10773 and 1.11792.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
⏰ In the weekly timeframe, the exchange rate of these two currencies is currently in a range, experiencing fluctuations and reacting to the resistance and ceiling of the box, which is at point 1.10257.
🛑 On lower timeframes, we have a strong and suitable upward trend that has reached resistance. Currently, we are oscillating within a short-term box between 1.10257 and 1.09808.
📈 For a long position, we have a very important resistance ahead. Currently, due to the ranging ceiling of the weekly box, there is a possibility of breaking this resistance and reversing the trend from this area.
🤔 However, I prefer to wait for a pullback and then open a long position after hitting 1.10257. But it's better to wait a while at this point and then break the resistance. So after breaking this resistance, we will open the long position, and place our stop-loss at 1.09808. Because we are breaking the weekly resistance, we set a larger stop-loss to protect against fluctuations.
📉 For a short position, we have an upward trend line that needs to be broken for trading. After breaking this trend line, we even hit a pullback to the trend line, which increased the importance of the 1.09808 level. We can open a short-term short position after breaking this trend line. However, because we have a short position against the trend, it's better to set a small stop-loss to quickly exit the market.
🗓️ Also, today is Tuesday, the first day of the market. So if you're trading today, I suggest doing so with less risk. This way, if you encounter unexpected fluctuations, you'll lose less capital and can easily recover to your account.
🔝 The upcoming support levels are 1.09173, 1.08660, 1.08074, and the upcoming resistance levels, in case of breaking the weekly box, will be 1.10773 and 1.11792.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
