M Formation formed on the daily. The price broke below the neckline and it looks like there is some supply taking place.
We are seeing other bearish signals including:
21>7 - Bearish
Price<200
RSI<50 - Bearish momentum
Target 1.0454
AUD/NZD has approached a historical resistance level, and has now broken the support trendline. Price has performed a break and retest pattern of the support trendline and we're now looking for downside into the previous support zone.
I do not really trade this pair but a famous line goes by 'what goes up must come back down' so there is no way for this trade to keep rising it has to drop on the other hand GBPAUD needs to rise. We have a decent risk reward for these two trades, risking around 40 pips for AUDNZD for a minimum of 90 pips target to the downside could possibly even reach 160 pips!...
Hey guys,
Time for some NZD bulls in this currency pair.
Technically, in the daily chart, it is clear that a break out trade is in play. First, notice that support trend line break out on 15.09.2017, after that price corrected higher as a stochastic buy signal was printed after 02.10.2017. Between 19.10.2017 and 25.10.2017, there was congestion and a consolidation...
