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JamesFX

Downward potential on this pair

Short
Australian Dollar / New Zealand Dollar (FX:AUDNZD)  
JamesFX Updated   
FX:AUDNZD   Australian Dollar / New Zealand Dollar
Trend Analysis Supply and Demand
1
0
trendanalysis supplyanddemand
Head and shoulder neckline is broker, price is on its way to fresh demand zone. i anticipate profit-taking/retracement from there back into the freshly created supply zone before further downward momentum. I will be entering a short position once price is in the highlighted supply zone (in yellow) with SL slightly above.
Comment:
price has now retraced back to the neckline/supply zone and its starting to look like a pin bar. Upon close, i will confirm the trade.
Comment:
still heavily bearing on this pair...a break past 1.09500 will invalidate that bias.
Comment:
price is now back in the most recent supply zone. Will be watching how this candle closes today to determine which direction for next week.
Comment:
and we are off..Monday is looking promising so far.
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