- Respecting 0.786 fib level at a KEY level.
- Bullish engulfing formed over night.
- Bullish pressure breaking out of this consolidation zone.
- Next key area is 1.08140, so there's a lot of potential for a move to the upside without much resistance.
This pair is a bit of a mess.. we can see that price broke support and was pushed back up a little by the buyers.. the sellers forced price to break support so its safe to say we are setting up for a sell
I am waiting for confirmation before jumping in as price could float about before dropping
AUDNZD - SELL
SL - 1.07165
TP - 1.04209
Once support has been broken and there is confirmation then we will sell to the green area
As we can see from this chart price broken through once but quickly shot back up past support.. I am waiting for a clear signal before entry
AN long. Waiting for a pull back to the purple box area given, this also lines up with the ascending trend line as well as the 61.8 fib level for us to look at taking a long trade.
Take partial profits.
200 PIP GAiN 9/1 RR
While the price is above the support 1.0275, resumption of uptrend is expected.
We make sure when the resistance at 1.0630 breaks.
If the support at 1.0275 is broken, the short-term forecast -resumption of uptrend- will be invalid.
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
Price is currently showing bearish momentum with the potential to make new lows after price has retarced to the price level at the grey line i have marked which is our entry point
Stop loss - Red price level
Take profit - Green price level
I believe AUDNZD should go into up-trend very soon.
We can see this hammer at the bottom of the bearish channel which means the trend should change now.
Furthermore, the price is moving "Sideways" in this triangle, so it's time for some movement to the resistance.
We can expect some bearish movement in the begging of the week, but eventually,...
AUD NZD IS ABOUT TO PRESENT US WITH A LONG OPPORTUNITY!
Making the description simple - we have our daily resistance at 1.05355 that have rejected around 5 times from that zone. With that been said, a clean break of 1.05355 and retest would present us with a long opportunity!
Please, be patience and see the resistance turning support in order to place a long...