AUDNZD - When bullish signals don't work

FX:AUDNZD   Australian Dollar/New Zealand Dollar
80 2 5
I have been bullish on this pair, but got stopped out. When such strong bullish signals fail, it is time to reverse positions. Although I am still bullish on the longer term (that is still an inverted H&S on the weekly, right at the all time support), I believe the pair is going to move down in the coming weeks.

On the weekly chart the impulse turned red.

On the weekly chart, the corrective double bottom I outlined on my previous chart got trashed today, due to the policy stance of the RBNZ (they kept the interest rate at 2.25%).

I have recently started using more of the 78.6% fib. That is where my target is.
9 months ago
Sorry to hear u got stopped out. U alerted me to the trade (long), I took it and bailed reluctantly for a nice profit on Friday night, I didn't wanna hold Aussie over the Doha weekend. Turned a nothing week into a good one for me. Just wanted to say thanks, hope this one works out for u
vlad.adrian PRO fash
9 months ago
Thank you!
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