FX:AUDNZD   Australian Dollar / New Zealand Dollar
The price has been in an ascending channel for the whole month and continued to for higher highs and higher lows. It has reached our support trend line and predicting the price to move to the upside. The price seems to have been holding around the 1.0740 level for past 2 days failing to break below that level. The fibonacci retracement also shows the price bouncing back from the 61.8% key level. Using a tight stop of just 30 pips seems conservative on this setup. A good 1:3.35 R:R trade. I would hope the price to ultimately reach 1.0886 level where I will be putting my TP2. Lets see how it plays out. Please feel free to share your thoughts on this. Would really appreciate it.

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Comments

Yes. It has just had a bounce from an ascending trend line so should be following the uptrend. Please like the analysis and follow my profile if you find it uselful. Will be much appreciated
+1 Reply
Just now... it will going down?
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junaid14ahmad ziera9687
@ziera9687, No . The bias is still up.. the trade has shown reversal patterns now which we were originally expecting. Hope you like the analysis
+1 Reply
ziera9687 ziera9687
Okey.. so right now it be going up right? Just i look
Reply
junaid14ahmad ziera9687
@ziera9687, Yes
Reply
SL triggered on this one unfortunately. But no worries. Small 30 pip loss. Rest two trades running in 70+ pips profit
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Its going up?
Reply
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