Technician

AUDNZD: Could Provide a Trading Signal

FX:AUDNZD   Australian Dollar/New Zealand Dollar
603 4 7
Waiting for a potential trading signal here.

Explanation:
The price is trading within a sideways range illustrated on chart by the rectangle box among 1.0945-1.0550 areas, where price hit the upper ceiling of the range before retreating lower again, a break back below 1.0735 support area would confirm a head and shoulders top pattern, and i would be shorting targeting 1.0615 and 1.0550 as next targets . Alternatively, as we hit this key support at 1.0735, a pin bar , hammer or any rejection candle could provide a new long signal targeting 1.0870 and 1.0945 levels.

I will be providing updates on this potential trade if possible.

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Thanks for bringing this to our attention. I spotted this setup yesterday, although, only the inverted HS. Let's wait and see how this turns out.

Good luck!
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:) thx
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I'm still holding half of the position I built up, with a stop under the support you outlined. I believe for now it's gonna move sideways, rather than up or down.
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Technician TOP vlad.adrian
Could be, but anyway I will wait for a confirmation for the potential trade.
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