AUDNZD - Descending broadening wedge

Australian Dollar/New Zealand DollarFXCM

Description

⋅ Dec 15, 2020 8:59 AM

AUDNZD bounced off the descending broadening wedge support as expected from my previous analysis.
Price is testing the wedge resistance.
Bullish ⬆️ - breakout above the wedge resistance.
Bearish ⬇️ - breakdown below the minor trendline support + previous swing low.

Comments

fxpays

⋅ Dec 15, 2020 10:06 AM

I'm short nzd, head and shoulders on nzdchf so this trade could be valid, nice idea

Chibuike_Odoh

⋅ Dec 15, 2020 10:25 AM

@fxpays yeah 👍

akpanhappiness11

⋅ Dec 15, 2020 9:09 AM

So we are waiting for the market to make a move so we can clarify on the direction it's going and figure out our entry point right?

Chibuike_Odoh

⋅ Dec 15, 2020 9:13 AM

@akpanhappiness11 yeah👍

Chibuike_Odoh

⋅ Dec 15, 2020 10:25 AM

Let's see how it goes