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JD_TeenTrader

AUDNZD - Plotting the big fall

Short
Australian Dollar / New Zealand Dollar (FX:AUDNZD)  
JD_TeenTrader  
FX:AUDNZD   Australian Dollar / New Zealand Dollar
Trend Analysis Harmonic Patterns Chart Patterns AUDNZD audnzdshort crabpatterns sellsignal
9
4
trendanalysis harmonicpatterns chartpattern audnzd audnzdshort crabpatterns sellsignal
There are a number of reasons we are taking a short position on AUDNZD

1) The daily trend is still down.
2) H4 is completely overbought at RSI 78
3) Big divergence on H1 seen on the chart
4) Crab pattern present
5) Strong resistance between 1.08 - 1.0830

We expect 170 pip move to the bottom with a risk of 40 pips.
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