AUDNZD has been declining for couple of days and is ready for an intra-day pullback before the major trend continues. Analysis is based on my currency pair analysis. I expect the pair to fall to 1.04438 where I will enter the trade with initial profit target at 1.04794; 2nd target is at 1.04948. Stop loss is few pips below 1.04369.
Any questions? Please let me know.
While the price is above the support 1.0530, resumption of uptrend is expected.
We make sure when the resistance at 1.0730 breaks.
If the support at 1.0530 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades, if the Midterm level 1.0530 is broken.
The ascending flag...
Between 3rd Sept and 5th Sept, price failed to make to a higher high, while macd displace a lower high signalling bearish divergence. Expecting a move down to the 200EMA, Weekly S1, 75 fib at 1.057. Would look to re-evaluate price once it reaches this zone to see if price continue up or drop lower.
Short at 1.065 with a target of 1.057 and then...