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theforexarmy

AUDNZD Reversed Off Resistance, Prepare For Further Drop!

Short
Australian Dollar / New Zealand Dollar (FX:AUDNZD)  
theforexarmy  
FX:AUDNZD   Australian Dollar / New Zealand Dollar
Chart Patterns Harmonic Patterns Trend Analysis AUDNZD aud NZD audnzdshort Forex forexignals
3
0
chartpattern harmonicpatterns trendanalysis audnzd aud nzd audnzdshort forex forexignals
Sell below 1.0915.
Stop loss at 1.0944.
Take profit at 1.0857.
Reason for the trading strategy (technically):
AUDNZD reversed off its resistance at 1.0915 (61.8% Fibonacci extension, 76.4% & 50% & 50% Fibonacci retracement) where it is expected to drop further to its support at 1.0857 (100% Fibonacci extension, horizontal swing low support).
Stochastic (34, 5, 3) reversed off its resistance at 89% where a corresponding drop is expected.
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