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OrcChieftain

AUDNZD - anticipating channel fakeout to the upside, then short

Short
Australian Dollar / New Zealand Dollar (FX:AUDNZD)  
OrcChieftain  
FX:AUDNZD   Australian Dollar / New Zealand Dollar
Trend Analysis fakeout
5
0
trendanalysis fakeout
After the double top in the previous month, AUDNZD has been trading in the sideways channel/wedge. This likely created a concentration of stop-loss stop-market orders above the channel, but I do not think that AUDNZD can grow from the fundamental perspective or from that of interest rate differentials. If there is a fakeout, it will offfer nice short entry.
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