AUDNZD is approaching our first resistance at 1.0475 (horizontal pullback resistance, 61.8%, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1.0423 (50% Fibonacci retracement).
Stochastic (34,5,3) is also approaching resistance where we might see a corresponding...
H4 - Price moved lower, broke below the support zone and is holding below it. Bearish hidden divergence.
H1 - Bearish divergence.
We may now look for more evidences of bearish pressure and then start looking for sells.
=> The ABCDE triangle has been in play since we bounced in 2015 and has now broken.
=> Remember these are levels that have been tested multiple times over the last 3 years and the break should therefore be viewed as imperative.
=> From a technical perspective the market has support at 1.048-1.047 and although this may trigger a period of consolidation as the...
AUDNZD reversed off its resistance at 1.0414 (100% Fibonacci extension ,61.8% Fibonacci retracement , horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 1.0370 (61.8% Fiboancci retracement, horizontal swing low support).
Ichimoku cloud is also showing a bearish cloud where a corresponding drop is expected....
Price has broken through support which has been holding for some time now. Head on shoulders neckline lining up with broken support, watching for a pullback to test this zone as new resistance for price to then make its way lower & continue the downtrend.
confirmed dragon pattern and unconfirmed double bottom. just realized the dragon pattern so I will try to enter the position near the blue line. if not; I will wait to brake neck-line. closing under the support zone will be my stop-loss.
AUDNZD is approaching its resistance at 1.0535 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it may reverse down to its support at 1.0470 (100% Fibonacci extension, 50% Fibonacci retracement, Horizontal swing low support)
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal may occur.
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