AUD - BEARISH
1️⃣ Worries that surging COVID-19 infections in India and Japan could derail the global economic recovery weighed on investors' sentiment.
2️⃣ The annual inflation rate in Australia rose to 1.1% in Q1 2021 from 0.9% in Q4 and compared with market consensus of 1.4%. On a quarterly basis, consumer prices went up 0.6%, the least in three quarters, below...
AUDNZD short trade on the 2h with a breakout setup.
This one is a quite late one as the trigger bar closed during the night.
Entry was executed based on the 30m pullback back into the 2h breakout level, using stop placement as it would have been used on the 2h.
The future will tell us if the daily trendline break is just a fakeout. But that's part of...
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Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
I was expecting a bounc from AUDNZD but it seems like it contiunies making lower high and lower lows, and just broked a high Support line. Which can happens it contuines go down to the next support line.
The pair has failed to make a higher highs on the daily. In the 4 hr it closed bearish breaking all the lows from the past 3 days. Giving us signs of a trend reversal. 20 pips on top of previous support (now resistance).