This time we use a Fibonacci retracement, and we see the Price at level 23.68 so we are expecting to see the Price fall even more.
There is a very important resistance that was broken so the Price should bounce there and be bearish
I am looking for a long opportunity on AUDNZD. Price made a strong impulsive move to upside from 02-Jan19 to 21Jan19 and it corrected 61.8% of it up to 1.0374 and now it is losing momentum. If this move will go according to forecast we can have:
TP1=100 pips; TP2=225 pips; TP3=330 pips and TP4=425 pips.
The big move on higher TF can be an ABC, where the C wave...
H4 - Price moved lower, broke below the support zone and is holding below it. Bearish hidden divergence.
H1 - Bearish divergence.
We may now look for more evidences of bearish pressure and then start looking for sells.
I am looking for a long opportunity on AUDNZD. Price made a strong impulsive move to upside from 02-Jan19 to 21Jan19 and it corrected 61.8% of it up to 1.0374 and now it is losing momentum. If this move will go according to forecast we can have:
TP1=100 pips; TP2=225 pips; TP3=330 pips and TP4=425 pips.
Good Luck!
AUDNZD / H1 / Technical Chart
After the Breakout of the Wedge pattern,
it tries to get power with bulls,
if it will break and close the resistance channel, it will start to rise fast
wish you many pips
The two Australasian currencies are represented in the Australian Dollar vs. the New Zealand Dollar pair. High Rollover rates and like geographical locations cause them to often trade alike against other currencies. Because of this the pair is not extremely affected by global factors or trends but instead reacts more to changes in the local economies.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
