AUDNZD-possible triangle thrust after rate cut

FX:AUDNZD   Australian Dollar/New Zealand Dollar
529 2 10
Tomorrow we have heavy rate news for the NZD. A rate cut from 3.00% to 2.75% is expected.
Is this happens it could be the beginning of the long term rally for this pair.
Technically we have an ugly consolidation that appers to be a barrier triangle. Currently price is finishing the (E) leg. If it is the case we should expect a strong thrust to the upside, the rate cut would be the catalyst.
I labeled all this consolidation as wave 4.
Price could not break a long term support to the left.

Best regards.

This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Managing is 60% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action.
Any respectful and constructive ideas are welcome (agree or disagree).

IvanLabrie PRO
2 years ago
Was thinking AUD is regaining massive strength.
Lovely aud longs everywhere.
FullTimeTrader IvanLabrie
2 years ago
Yes, it will depend on the news tomorrow. After a rate cut this pair will fly.
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