My analysis points to a bearish stance for the AUDNZD pair, backed by a strong bearish divergence on the 4-hour timeframe. This divergence suggests a potential downward movement. The trade's entry is set at 1.08444, triggered by a breakout of the last prominent higher low (HL).
To manage risk effectively, the stop loss (SL) is positioned at 1.09476, based on the last higher high (HH).
Take Profit (TP1) is set at 1.06486, offering a compelling 1:9 risk-reward ratio, reflecting a significant potential gain.
Furthermore, the trade aligns with a broken trendline on the 4-hour timeframe, strengthening the bearish case.
Disclaimer:
Trading involves risks, and this analysis is for informational purposes, not financial advice. It's crucial to make informed decisions and conduct your own market analysis, if needed, before trading.
To manage risk effectively, the stop loss (SL) is positioned at 1.09476, based on the last higher high (HH).
Take Profit (TP1) is set at 1.06486, offering a compelling 1:9 risk-reward ratio, reflecting a significant potential gain.
Furthermore, the trade aligns with a broken trendline on the 4-hour timeframe, strengthening the bearish case.
Disclaimer:
Trading involves risks, and this analysis is for informational purposes, not financial advice. It's crucial to make informed decisions and conduct your own market analysis, if needed, before trading.