AUDNZD approaching a projected right shoulder, which if held, sets up for at least a move back toward the projected neckline. Consider the low established around 1.0730 within a short period of time to be a significant indication that this pair could work its way higher. If the right shoulder fails then this will set up for a move back toward the lows established at 1.0470 which at the moment appears to be a projected head in the reverse head and shoulders formation
Comments
Marius_Johnsrud
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i like it. would like to see a retest of the lows and some more consolidation before breaking up though (making a larger move to the upside more likely)
WitchDoctor
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my trade will enter long at 1.0720 with the stop just below 1.0666 the target back toward 1.0950
timstrading
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nice set-up...
ForceFollower
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Currently this pair is very weak. We'll see what it does at 1.070. If it gives support, your scenario may come true.