AUDNZD – Aussie/Kiwi could continue to push higher
The AUDNZD has shown strength recently as we can see in the charts below. You will notice first on the monthly chart that an inside pin bar buy signal has formed from 1.0500 support following several months of consolidation. If bulls remain in control, we could see price continue to break higher from this setup...
Bearish PA:
Tweezers at Desc. TL Rejection
also CTL retest
Tweezers also occurred at a daily 61.8% fib bounce level
Pair has been in down trend for some time and after a short burst up formed
a double top and has started putting in lower lows and lower high's.
The pair has finished an ABC correction and now heading up and we have two scenarios, the first: we are in a wave x upward which is a 5-3-5 corrective wave in the main trend direction (up). The second Scenario, we are going to continue in an impulsive fashion upward to new highs. With NZDUSD breaking a trend line to the downside, it is most probably we are going...
Even if your entry is at market the risk/reward opportunity is fantastic. Ideally, we want it to test ~.9550 and take a low risk entry short position there. I think there is something brewing in the Canadian dollar, not just this particular cross..
Gold's Behaviour May Signify An Upcoming Reversal For AUD/& NZD Pairs
Potential Sell Setup Shown For NZDJPY, Awaiting For More Confluences To Line Up (Especially If Gold Indicates More It Does Not Wish To Trade Above Key Monthly Resistance)
Gold Outlook On Potential Reversal
Confluences:
1/ with the trend
2/ bounce of the upper channelline
3/ 0.6625 as resistance level
4/ Fibonacci 61.8% bounce
5/ MACD bullish divergence
Additional:
* H&S - pattern on 4H/1H
* Weekly high test
* Fundamentals are in our favour
This is a 0.5% risk trade I am currently in. the downward move looks impulsive to the downside and I guess there is still high probability to continue going down. And from looking at AUDUSD (still to go down) and NZDUSD (going up and currently finishing wave 2 down) this trade seems ideal :)
another "conservative"short entry could be entered after the price...
IM ALREADY SHORT IN THIS PAIR BUT IF PRICE RETRACES AND TAKES ME OUT OF THE TRADE THEN THE NEXT LEVEL I'D LOOK TO SELL IS AT MY CLUSTER ZONE/SELL ZONE. IVE GOT LOADS OF CONFLUENCES AT THIS LEVEL WHICH ARE THE 0.5 AND 61.8 FIB, SUPPORT TURNED RESISTANCE STRUCTURE LEVEL, MAJOR TRENDLINE, DYNAMIC RESISTANCE (50 MA) AND A NICE PSYCHOLOGICAL ROUND NUMBER (1.03000)....
The Reserve Bank of New Zealand is expected to hold rates. With the Kiwi being resilient of late, Graem Wheeler is likely going to jawbone about it being overvalued, which should give it at least some short-term drag, especially against the USD. In terms of monetary policy, the press conference might reveal whether or not a rate cut is still on the table, and if...
This particular currency pair representing the two neighbouring economies with some similarities yet different dynamics in which one has larger dependence on mining resource and the other on dairy produce has been in very large sideways move in almost unrecognisable swings and patterns. This is so until you zoom out using larger time frame and look back with...
