AUDNZD has shown an uptrend for approx 3 weeks. Today the sell off has provided an opportunity to jump on the back of this pair. See rationale below:
1) Near term uptrend 2) 100 EMA on 4hr (Red Line) has historically been a good place to buy 3) Indicative trend line drawn (However confirmation required from price action)
What am I waiting for?
Price to close above 100 EMA then add a long position with this pair. Update will follow if it moves in the anticipated direction, if not continue hunting!