hussein.ahmed
Long

Price broke out a major resistance level.

FX:AUDNZD   Australian Dollar/New Zealand Dollar
69 2 0
Prices completed a long down trend wave cycle to see a potential reversal after breaking above the 1.07835 level. Prices are currently trading above the 200 daily moving average which shifts our bias to bullish on this currency pair. We must now wait for a close above the 1.09108 (2nd green line) before we could trigger a long trade. That would ensure that this is not a false breakout and we will target prices to reach wave 3, then retrace to wave 4 to re-test the 2014 major resistance a the round number of 1.1300. Keep trading simple.

This is a long term trade, that might take up to months.

Thank you...great insight....looking long as well.
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Thanks bro. Hope it was helpful. Im up 300 pips on this trade. Happy trading.
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