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GodMadeTrader

BULLS MAKE MONEY AND BEARS MAKE MONEY BUT PIGS GET SLAUGHTERED

Short
GodMadeTrader Updated   
GLOBALPRIME:AUDNZD   None
Trend Analysis Chart Patterns Fundamental Analysis
4
2
trendanalysis chartpattern fundamental
A new downtrend is forming, fundamentals are going to push the price down and technical analysis is confirming this. Price is in a greed zone and bullish momentum is stalling, bears should be taking over the market soon. Sentiment is shifting. As long as 1.0540 is resistance look for 1.140.
Comment:
The RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.0485 and 1.0479). The configuration is negative.
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