EvanJones

Await for the break and then target this Months Pivot

Long
FX:AUDNZD   Australian Dollar / New Zealand Dollar
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1
AUDNZD has been overpowered by the Kiwi Dollar which has gone strengthened against many pairs in recent weeks.

Although I expect the Kiwi to gain further strength, this pair is due for a retracement and I expect a retracement towards the Monthly Pivot as a definition of fair price (to explain in future posts...)

Wait for a break above the trend line and then retrace to either bounce or enter immediately if the method suits you and aim for approx 75% towards the monthly pivot . Happy trading!