AUDNZD has been following (very nicely) the dark blue up fork during its recent correction. If this correction is about to complete, price may return to the pervasive down trend and dive not only to reach the bull trend line (at about 1.0452-1.0454, i.e., Ret-0.528), but also get deeper (to Ret-0.764, at about 1.0436). The aussie continues being the weakest major currency, while the kiwi has been even stronger than the greenback. If the investors' sentiment doesn't shift, we should see more of a bear trend in the early hours of 2015.
Good luck, auspicious market conditions and best opportunities in your trading in 2015! ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
looks like your sliding parallel hitting support in my asian session
ForceFollower
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Well, actually it looks like the ongoing correction hasn't reached its top yet. I think we have to wait till it gets to the upper ML parallel or the upper border of the channel, i.e., to the 1.0523-1.0530 area. Then I'd expect a return down to at least 1.0485 support level.
UnknownUnicorn41236
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im actually long :D My A piv is your B, see how we go ( ps. need to figure out how to reply in chat)
UnknownUnicorn41236
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your C pivot sorry
ForceFollower
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Thanks for your feedback. The recent price action has been pretty bullish indeed. The up fork has been closely followed by price; it's just hit the upper MLH at 1.0523. Next let's see, if sellers are going to step in and press it back down to 1.0485 or at least to 1.05.
ForceFollower
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What is your problem of reply in chat about? Do you mean private messaging?
jangseohee
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Oops, reply in chat?
ForceFollower
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The correction at its highs so far.
jangseohee
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Nice pitch fork!
ForceFollower
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Thanks, forks are sometimes a work of art, esp. when price follows them to the tick... :-)