Trade Of The Decade On AUDNZD !!! $$$
An AMAZING long opportunity is taking place on AUDNZD very soon. The pair is about to reach the support line of a weekly simmetrical triangle in the 1.05-1.06 area. This support should do its job but the strategy will be invalidated if the price falls below 1.0400.
The historical lower of the pair is 1.0020 reached in April 2015. The second historical lower is 1.0230 reached in September 2016 and the third historical lower is 1.0370 reached in June 2017.
On the other side, the historical higher is 1.3790 reached in 2011.
Analyzing the chart, we can expect a strong rebound around 1.0550 followed by a breakout of the resistance of the triangle around 1.10.
Above 1.10 a second target would be 1.1270 then 1.1600 and probably much more.
A 700 pips profit is a reasonable mimimum target and maybe more.
Of course a strategy would be to take partial profit at key levels and reinforce the position on corrections.
The historical lower of the pair is 1.0020 reached in April 2015. The second historical lower is 1.0230 reached in September 2016 and the third historical lower is 1.0370 reached in June 2017.
On the other side, the historical higher is 1.3790 reached in 2011.
Analyzing the chart, we can expect a strong rebound around 1.0550 followed by a breakout of the resistance of the triangle around 1.10.
Above 1.10 a second target would be 1.1270 then 1.1600 and probably much more.
A 700 pips profit is a reasonable mimimum target and maybe more.
Of course a strategy would be to take partial profit at key levels and reinforce the position on corrections.
Comment:
So sharp !!! Perfect !!!
