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AUDNZD: an UPCOMING market REVERSAL

Short
FX:AUDNZD   Australian Dollar / New Zealand Dollar
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🟢Forex Pair:
AUD/NZD

Technical Analysis:
In the weekly time frame, since March 2020, the price has been following an uptrend, bouncing for the first time on its dynamic support in November 2020.
It's currently in a bullish trend and reached an important support zone .

In the daily time frame, the price is still moving in a clear uptrend since it got a strong impulse on the main trendline.

In the h4 time frame, the price is moving with a strong uptrend, breaking through a daily resistance zone at about 1.07279 and it's currently trying to reach the next main resistance at about 1.08500

🔴Conclusion:
I think this pair is going to get an upcoming interesting situation, less than 40 pips to reach an important resistance zone and a high possibility to see a market reversal.
I'm confident to see the price collapsing as soon as it will reach the resistance zone , planning my short trade once I'll get a proper rejection.
My target would be the support zone at about 1.07276, matching with the .50% of Fibonacci retracement .

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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni

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Comments

Good job mate
+1 Reply
FXtrades-gp Mahtab_Tradia
@Mahtab_Tradia, Thanks for your feedback!! :D
Reply
I appreciate your help, neat work
+1 Reply
@abel11 many thanks man ! 🙂
Reply
Waiting for the trigger to sell this one 👌 thanks for sharing brother
+1 Reply
FXtrades-gp TheSignalyst
@TheSignalyst, absolutely! :) thanks for your support, as always! :)
Reply
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