Lanmar
Long

Potential multi-year long for AUDNZD

FX:AUDNZD   Australian Dollar / New Zealand Dollar
It looks to me that we may have reached a major bottom for AUDNZD             based on the historical cycles displayed in the chart to the right. Fundamentally this could make a lot of sense (research that if it's of interest), so I like this trade a lot. The breakout on the daily could be the major move for lift off. I am looking to go long on any retracement of AUDNZD             as long as price is supported within my risk parameters. My targets will be trailed.

This has been on my radar for a while and I've been going long on and off working around the trade.
Comment: I'd like to note that the bottom for AUDNZD in 1985 was exactly 1.05, and the top was 1.35...

It is very rare to find an instrument that sits at a 30 year quadruple bottom!!
Comment:
snapshot


Looking at my previous analysis above, I found that I drew the trend line incorrectly, so the previous "pennant" was actually not invalid. It was actually a mistake on my end. See below:
snapshot
Same view, good job!
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