Long AUDNZD Longterm Based on Multiple Timeframes - 400pips

We were long on AUDNZD from 1.03 and hit our TP yesterday at 1.09 where we touched the EMA200 as expected on the weekly time frame, however, the recent bullish move has shown strong signs of even a further bullish move and I cannot resist to re-entering, even if it is a Thursday evening before the last Friday of the month + Bank holiday weekend!!

A closer look on the daily time frame shows we have successfully broke through a key resistance level . Zooming in to the hourly charts, we can see price was in a consolidation zone since yesterday morning and has now broke out above with another strong leg up. We are aiming for 1.10+ with a potential target of 1.13x for 400pips.

This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.

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Comment:

Closed 1st position, banking 100 pips profit and moved second position to Break Even.

Trade closed: target reached:

Second position closed at 1.11x sorry for late update. Banked 330 pips in total from this trade setup.