Australian banks are pumping their currency. On top of that. AUD/NZD is oversold. Refer to chart.
Possible downtrend if the price fall in the next resistance
Stoploss 4hr candle above upper red line. Target lower red line.
Entry @ bottom horizontal if we manage to get there first. Else entry once price closes above top horizontal.
Recent break of resistance line. Too perhaps expect price to stall at the next resistance level as shown on chart. Peace and Love
Hey tradomaniacs, welcome to another free signal! Important: The point of risk-reduction is a strong support-level! Manage your risk there! ----------------------------- Type: Swingtrade Sell-Stop: 0.9568 Stop-Loss: 0.9609 Target 1: 0.95 Target 2: 0.9461 ----------------------------- LEAVE A LIKE AND A COMMENT - I appreciate every support! =) ...
Kiwi index is approaching its support at 6.8787(61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 6.9528 (50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing high resistance). Stochastic (55, 5, 3) is approaching its support at 3% where a corresponding...
An update on this mid-term analysis on AUDNZD and the bullish wedge. As we can see, it took more time and a slightly bigger drop to complete the wedge. Yesterday the NZD took a hit because of FA news, that is the reason why this big squeeze up has happened. This could be and should be the start of a bigger rally coming weeks. I see 2 options now which can be...
Looks like a legit bullish wedge here in the making, giving a good opportunity for a swing trade. On the right we can see the low might have been set already, but ideally we make one more drop. I think if the red resistance breaks, could be confirmation of the low being set already. Previous analysis:
Primary trade setup: Important Daily support and a prolonged upward trend that may need a break according to the guidelines of the market structure. We can wait until the price decides to break its consolidation and perform a new test below the previous maximums. Positive risk benefit ratio. Secondary Trade setup. If the price decides to raise even more to...
NZD/AUD has been trading side ways for some time looking at the Weekly & Daily time frame, however going to the H4 timeframe, I noticed a respected up trend line. I anticipate a pullback before putting a BUY. Also look at some of the key points on the RSI. Could help you make a better idea on when to enter. Remember more confirmations = better trade. ENJOY.