CyclicalWaves

AUDNZD; Last Downward Correction Before Rally

FX:AUDNZD   Australian Dollar / New Zealand Dollar
This pair has broken its descending channel in the 1-hour time frame on 10-9 and is now experiencing a mild selling pressure which we think is a minor correction. The true test of the bullish power is when the prices reaches the stiff resistance area shown on the chart. In that zone, a bearish Inverted AB=CD and a bearish Shark completes which will exert decent selling pressure on this pair.

If bulls manage to break that area after a healthy pullback, the stage will be set for a decent +300 pips rally.

Good luck,

Cyclical Waves Group
Comment: As anticipated, price reached the resistance zone we mentioned in our analysis and reversed. This 5-wave rise seems to be the 1 or A wave which will be followed by a correctional 2 or B. Thus we expect that after a down ward correction, the rally into 3 or C wave will commence.

Good luck,

Cyclical Waves Group
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out