POTENTIAL TRADE : AUD/NZD
This particular currency pair is currently forming a bearish flag after an impulsive leg down. Short positions at current market price look appealing with stops placed above the 1.0450 region.
We are also observing the head and shoulder formation in this currency pair. The head being the market top at 1.050 and the left shoulder creating the zone resistance at 1.0450 where we are placing our sell orders.
TRADE PARAMETERS:
Entry Price - 1.044
Stop Price - 1.047 (30 pip)
Target Price - 1.03 (140 pip)
This particular currency pair is currently forming a bearish flag after an impulsive leg down. Short positions at current market price look appealing with stops placed above the 1.0450 region.
We are also observing the head and shoulder formation in this currency pair. The head being the market top at 1.050 and the left shoulder creating the zone resistance at 1.0450 where we are placing our sell orders.
TRADE PARAMETERS:
Entry Price - 1.044
Stop Price - 1.047 (30 pip)
Target Price - 1.03 (140 pip)