Price failing to fall below 4H demand zone so expecting a bullish push to 1.7300 level for 3rd tap of trendline and rejection of 4H 50EMA.
General bias for the pair is bearish as i'm expecting risk sentiment to remain risk-on given the relatively optimistic news expected from AUD/NZD this week re loosening of lock down measures
Continuation of final impulse of Elliott wave pattern, further confluence added with completion of a H&S pattern
Last week finished with a fairly strong risk-on sentiment, I see that likely to continue with positive (as positive as it can be..!) news coming from AUD/NZD re Coronavirus
There is a demand zone sitting beneath current price so some strong bearish...
Weekly hedge fund data showing an increase in EURO long positions against the USD
There's a demand zone just below current price that also coincides with a monthly trendline (orange) and possible retest of a daily descending trendline (black).
Price is bouncing around in a descending daily channel, having recently bounced from the bottom of the range and making...
