🚀 AUDNZD - LONG TRADE SETUP 🚀
Hello everyone & Happy Monday! :))
It's been trending towards the upside nicely. We still haven't reached the monthly moving average of 200 as a moving resistance, so there are still pips to be profited from. On the daily time frame, we can see bullish pressure since it's currently developing a bullish engulfing candlestick and on the 4-hour we have a bullish pin bar candlestick bouncing off of a MA 20, which is another great higher time frame confirmation. AUD is being bought by hedge funds while NZD is being sold off.
It's been trending towards the upside nicely. We still haven't reached the monthly moving average of 200 as a moving resistance, so there are still pips to be profited from. On the daily time frame, we can see bullish pressure since it's currently developing a bullish engulfing candlestick and on the 4-hour we have a bullish pin bar candlestick bouncing off of a MA 20, which is another great higher time frame confirmation. AUD is being bought by hedge funds while NZD is being sold off.