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BluFX
Dec 19, 2016 10:24 AM

$AUDNZD SHORT AT MARKET @ 1.0460 Short

Australian Dollar/New Zealand DollarFXCM

Description

Bearish trendline resistance zone. Multipe tests of 1.0400 key support zone with no significant >0.707 fib retracements. Perfect bearish 0.786 fib retracement indicating a possible move down to 1.0300 before a correction to the upside at the bullish butterfly (Scott Carney harmonic pattern) completion zone @ 1.0290. Most recently, a bearish gartley (harmonic pattern) pullback structure indicating key resistance at 1.0485. I think we are going to see an aggressive move through the 1.0400 key structure zone going into 2017.
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