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fxtraderkristina

AUDNZD / 100 PIP MOVE TOWARDS MONTHLY RESISTANCE

Long
Australian Dollar / New Zealand Dollar (FX:AUDNZD)  
fxtraderkristina  
FX:AUDNZD   Australian Dollar / New Zealand Dollar
Trend Analysis Technical Indicators Fundamental Analysis
4
0
trendanalysis indicator fundamental
We always go with the trend, and since AUDNZD is doing that on the higher time frames, why shouldn't we catch this great trading opportunity? The 4-hour time frame is currently in a bullish flag formation, which is a continuation pattern, and it's attempting to break higher. This trade has the potential to at least move 100 pips until it reaches its monthly MA 200. Both currencies are being sold off by the hedge funds. Tomorrow we have AUD S&P PMI news, so the trade could definitely react to it, but the overall trend is still bullish. 🚀
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