AUD value under-valued. AUD will grow in strength. smaller time frame showing for a possible bear flag which would indicate the last smaller down push to complete overall correction before heading up as the AUD grows in value
AUDNZD is resting a key level of previous resistance on the daily time frame.
A closer look on the 4H chart shows price hovering around a key 61.8% Fibonacci level.
We can see some nice bullish confluence on the 4H chart for a potential entry:
-Support on the trendline
-In line with the current uptrend and 200 day EMA
- Confluence among indicators
Here we can see that AUDNZD has broken out and last week price moved to a new higher high(within 6 months), as predicted it has come back for a retest. I will now wait for confirmation before placing a buy position. My target is 200 pips which is at the channels top. I am also backed by the fundamentals for this trade.
We saw NZD coming stronger than AUD last week. This week, which of the pair will be stronger? Will AUDNZD go down or go up this trading week? Price briefly touched support at 1.08000 last week before being rejected. This week the bucks (AUD) look more likely to be stronger than the Kiwi (NZD).
- Let emotions and sentiments work for you
EURNZD has been slowly making it's way down to our entry area. There's a bearish fib on it and the -0.27 lines up with the ascending trendline where we are anticipating a reaction. A SAFE entry would be the break of the flag and stop loss below the flag.
See links below as to why we're anticipating NZD weakness.
Goodluck and trade safe!
Recently broke out of an ascending triangle pattern and is now in an accumulation within a bullish pennant. Expecting upside move similar to the previous burst upwards and towards 1.638 fibonnaci extension. We are following the trend and SL and TP are as displayed.
- Price in ascending triangle structure forming higher lows and equal highs
- Anticipating break and retest before bulls take control and push to upside
- 1:9RR, 2% risk, take profit based on distance between resistance level and bottom of ascending triangle