AUDNZD - Trend Reversal Around The Corner!
- Pair is currently making HH and HL showing classic up trend.
- Last impulse limb went from 1.08628 to 1.09155.
- Since, price has retraced to almost 0.618 Fibonacci retracement value making HL of 1.08838.
- Price has completely retraced to trend line
- Bullish confluence is observed by price moving to 0.618 fib level and touching trend line
- Bearish divergence has been identified from last two HH, with prospects of change in trend more evident.
- Wait & See should be observed at this point, till market responds to bearish divergence
- No trades should be taken at this moment
- Last impulse limb went from 1.08628 to 1.09155.
- Since, price has retraced to almost 0.618 Fibonacci retracement value making HL of 1.08838.
- Price has completely retraced to trend line
- Bullish confluence is observed by price moving to 0.618 fib level and touching trend line
- Bearish divergence has been identified from last two HH, with prospects of change in trend more evident.
- Wait & See should be observed at this point, till market responds to bearish divergence
- No trades should be taken at this moment