AUDNZD is setting up for a long.
The double bottom is at 1.043 area.
The 1.272 reversal of the last swing higher is in the same area.
As of now the market is just above the double bottom and having reached an area of reversal with three confluences.
1. A 1.618 reversal taken from the low on 27/05 to the high 21/06 (red)
2. Market has reached a measured move...
AUDNZD made a bullish reversal after the completion of an ending diagonal pattern. The impulsive rally has made a two swing high, the i-ii, (1)-(2) wave structure.
The completion of wave (2) correction which unfolded as a double zigzag, terminated at 61.8 Fib, and enclosed within a parallel channel indicated that the price action might have found a bottom in the...
AUDNZD broke through the descending trend line. We can expect a retest of previous high from where we can enter our long position all the way up to the top of the trend line.
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AN long. Waiting for a pull back to the purple box area given, this also lines up with the ascending trend line as well as the 61.8 fib level for us to look at taking a long trade.
Take partial profits.
200 PIP GAiN 9/1 RR
Hello everyone, its time to watch AUDNZD again, price is at the bottom! wait for price to give an impulse and look to go long, keep in mind that we have critical news the next coming 2 weeks on AUD and NZD. With 4/2/2020 AUD news and 12/2/2020 NZD news, they can move the market on our directions but we need to be patient on this pair. trade safe and good luck.
We are in the support zone, hopefully that 2 bounces from the past will be happening again this time.
1.) Rsi - set up similar to the past patterns
2.) Macd - Signal crossed and
3.) RR 2.5
Trade with cares !
We have a interesting setup here on AUDNZD, what we have here is the daily came down to a previous support with a Double bottom, so now we know that we have to be looking only now for bullish reasons to buy unless its breaking down the support,
if you take a look you can see that the market provided us with a nice bullish candlestick formation breaking out of the...
AUDNZD bears have been stuck in a consolidation structure for the past three months after a sharp bullish rally that peaked at 1.07301 level on April 17, 2019. The sideways bearish move indicates that the market is in a corrective phase and sooner or later, the bulls will take over and break out the bearish barriers.
Fortunately, a very notable corrective price...
AUDNZD broke a key support level AND a key resistance level. Looks to be continuing the downtrend. The pair is up on the day. Waiting until the pair hits the previous resistance level to determine if it will be rejected or break through. If rejected, SL will be above resistance and slightly above trend line, and a move to the support level will be in...
There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.1140 would begin in Midterm.
The ascending flag taking shape suggests we will soon see another leg higher.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more...