AUDNZD: Monitoring For Long Confirmation!

FX:AUDNZD   Australian Dollar / New Zealand Dollar
1705 18 29
I am monitoring this pair for a potential long. NO LONG yet.
Two tentative bullish signs:
1)Strong positive divergence on RSI
2) Bullish Hammer Candle

- I will be monitoring 1.0395 horizontal level for a breakout, that would confirm a long trade for me..

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GREAT analysis. take some guts to play the guessing bottom game.
ON it since 5 days :) Wish you luck !

MisterTrader MisterTrader
ENTRY for LONG at 1.0369 for me, let's see what gonna happen !
Well, you got your confirmation.
i bought since 1.0338 sl @ entry zero risk tp1 1.0490 tp 2 1.0575
I've been keeping an eye on the aud/nzd chart, and hammer is good enough for me to go long, since we've touched a multi-year low (up to now doji is also forming at W chart). Also love your analysis which is not over-complicated and thanks for all posts. Good trading to all
Hey Tech

Why would that level you mentioned confirm a long for you? I understand the RSI and the hammer, however I don't see how that level is any different then just taking break of the hammer?

Mate, this is the latest swing high(resistance) as you can see more clearly on the four-hour chart
+1 Reply
kmk.msp Technician
bulls are going to talking control.
AujlaFX Technician
Thanks for that!

I usually just use the daily chart to trade so I did not even consider looking at the h4 when you mentioned the level in your post.
Very interesting
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