SamKent
Short

AUD/NZD Looking for Kumo Breakout Trade on the Daily

FX:AUDNZD   Australian Dollar/New Zealand Dollar
29 0 1
The AUD/NZD             is trading in a tight range this week, the pair looks to be unable to push back from the recent impulsive bear move. This type of sequence is often labeled as a bearish rectangle continuation pattern. We're looking at the sequence of shooting stars as a bearish indication coupled with sub 50 RSI level; a break and close below the cloud, below the ascending price trend-line and ascending RSI trend-line will be enough to trigger us short. Our initial target will be at around the 2 to 1 risk:reward at the 1.092 lows.
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