FullTimeTrader
Short

AUDNZD-still not ready for the HUGE long term rally

FX:AUDNZD   Australian Dollar/New Zealand Dollar
378 0 15
Hello, after heavy fundamental news this week for the AUD it seems the dust already settled.
Im expecting more correction for this pair, according to EW guidelines we should expect a complex correction after a series of simple zigzags corrections (like the EURUSD             on D1 chart for example).

Looking at D1 chart we see theh price bouncing from a strong level of S/R and the channel:

snapshot


Here on H4 chart we see a bearish bat pattern already triggered. A series of LL and LH suggest that we are still on downtrend.

Managing the trade will be tricky , so i will closely follow the price action for more clues.


Best regards.
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