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Tall_Short
Apr 18, 2019 8:25 PM

Potential Short for AUDNZD Short

Australian Dollar/New Zealand DollarFXCM

Description

After a relatively long time with the Aussie gaining strength against NZD, the market now looks to be at a point of strong S&R.
My personal view is Short AUDNZD due to correlation of both the currencies against the Yen.

Also, on the daily chart on my broker platform shows an RSI of 80/81, which statistically adds to this trades potential. Overbought, relatively tight stop loss and large potential gains.
Comments
Tall_Short
2nd take profit hit.
Tall_Short
First take profit hit.
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