Get started
JST94fx

WK25, AUDNZD, Short, multi time frame

Short
Australian Dollar / New Zealand Dollar (OANDA:AUDNZD)  
JST94fx  
OANDA:AUDNZD   Australian Dollar / New Zealand Dollar
Support and Resistance Candlestick Analysis Multiple Time Frame Analysis
1
0
supportandresistance candlestick mtfa
Daily analysis
  • Last week we saw a new lower low on the daily chart as well as a break below a key level.
  • During this break we also saw a bearish engulfing candle mid-week so we can expect further downward movement.
  • Friday's candle showed some indecision (spinning top candle pattern) so we must look at lower time frames.

    4H analysis

  • Price broke below the key (dashed) level and has been testing a minor support level
  • The most recent rejection of the key level 1.06804 was also a rejection of the 200EMA
If we see a break of this minor support level and a retest then it could be a good opportunity to enter a short trade on this pair

Target 1 - 1.05875 (R:R - 1.1)
Target 2 - 1.30503 (R:R - 3)



Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.