We have clear daily trend change with RSI divergences.
Wait for break and close below 1.6030 on smaller time frames, H4 or at least H1 and short the pair on retest.
Tp1 1.0585
Tp2 1.0540
SL above last H4 swing
Good luck!
Hi Traders,
The AUDNZD set to make a bullish impulsive move in wave (C) of a weekly zigzag pattern.
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The weekly chart () of AUDNZD shows that the decline from March 2011 - April 2015 was a textbook five-wave impulse which supposed to followed by a three-wave correction according to Elliot Wave theory.
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Since April 2015 low, prices had completed a five-wave...
Chances of AUD gaining is high. not only are prices trending at major supports in the 4HR chart but they are at oversold territory in the weekly chart. Furthermore, there is an under-valuation in the 4HR chart complete with a buy signal in place.
Stops at 1.05 and a minimum of 350 pips in profit in the coming weeks.
