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RevenueTrader

AUDNZD - Inverse Head and Shoulders Pattern At Daily Support

Long
Australian Dollar / New Zealand Dollar (FX:AUDNZD)  
RevenueTrader  
FX:AUDNZD   Australian Dollar / New Zealand Dollar
Trend Analysis Chart Patterns traderevenuepro rsi_divergence Inverse Head and Shoulders
1
0
trendanalysis chartpattern traderevenuepro rsi_divergence inverseheadandshoulders
Trading Confluence
  • Price is trading around daily support level
  • An inverse head and shoulders pattern at the daily support level indicates the lack of selling pressure
  • RSI divergence confirms the lack of bearish momentum

Trade Forecast
At the moment all the trading confluence align at the same support level which comes from the daily chart. If we price break and close above the local structure level marked in the chart, we will consider going long targeting 1.05747 level.

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