AUDNZD-could start the long term rally soon

FX_IDC:AUDNZD   Australian Dollar / New Zealand Dollar
542 6 17
Right now this is one of my favorite pairs because its following the expected price action according my trading system. This is not a ready entry, just an overall analysis warning that the long awaited rally could start soon.

I expected a pullback when the price was strongly rallying:

And warned about entering long too early for the expected huge long term rally.

When doing an analysis i try to take the best information a tool can give me, not limiting to only one.
Here i'm using a combination of bollinger bands , ema 55 and ema 200, classical technical analysis and elliott waves .

The most important information here comes from bollinger bands . Looking at W1 chart we see a that BAND TO BAND duplication ocurred before pullback. After that price should retrace at least to the middle MA.
We have also a previous level of S/R and the EMA 55 acting as support.

Here on D1 chart:

- EW WXYZ corrective structure
- corrective channel
- bull flag (see below)
- EMA 200 acting as support
- expected harmonic AB=CD pattern
- AO is finishing an ideal bullish divergence

I will watch the PA closely near the area shown on chart and update for possible long setups.


P.D. nice potential bull flag forming with a BIG potential target

Yahia.Awes Yahia.Awes
As soon as this rallies audchf and audusd will follow suit.
FullTimeTrader Yahia.Awes
Hello, im not sure about that correlation because my bias is short with the AUDUSD. This pair is a different story because they are somewhat brothers from the same region. Lets see what happens.
Nice...Have a similar take . Good luck
Nice analysis. Only thing I wasn't clear on was the Bollinger "band to band duplication". Can you describe what this means? I haven't heard of this terminology before. Thanks.
FullTimeTrader BodhiTheory
Hello, difficult to explain here, this technique is not well known but used by few pro-traders. There some requirements to meet, i have searched and there's no free information on the web. You can PM me and i will recommend a paid coaching/website if you want more information.
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