ew-forecast

Elliott Wave Analysis: AUDNZD With Bullish Setup

Long
FX:AUDNZD   Australian Dollar / New Zealand Dollar
Hello traders!

Today we will talk about AUDNZD currency pair, where we see quite clear bullish EW pattern.

As you can see, AUDNZD made a five-wave impulse from the 1.0280 lows, which is first leg of a minimum three wave recovery. We know that after every five waves, a three-wave A-B-C corrective setback follows and we can see now a completed A-B-C corrective decline nicely connected within channel range.

Well, with current rebound by five waves and back above channel resistance line, seems like AUDNZD is ready for third leg up, which can send the price at least back to October highs and 1.06 - 1.07 area, just be aware of short-term intraday pullbacks.

Be humble and trade smart!
If you like what we do, then please like and share our idea!

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

Manage other's people money with cryptos, stocks or FX and collect profits
👉 https://bit.ly/3Mf1fYt

14 Days Trial To Real Time Elliott Wave Analysis: 👉 https://wavetraders.com/

Learn Elliott Waves
👉 https://wavetraders.com/academy/
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.