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Jan 31, 2020 3:24 AM

Weekly Inside Bar - Reversal next week - BUY AUDNZD Long

Australian Dollar/New Zealand DollarFXCM

Description

Good afternoon traders,

The AUDNZD is creating an inside bar on the weekly time frame.
This is a strong reversal signal when at a major support or resistance level.

RBA Interest Rate decision next Tuesday. Due to a turn around in the housing market, as well as strong employment figures, the RBA could hold interest rates steady.

Jump down to a daily time frame there is also a bullish divergence on the RSI.

Any thoughts and comments welcome!
Comments
transparent-fx
I made an AN analysis too
pjmurray2010
This pair has been consolidating for so long. The banks must be accumulating long positions.
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