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
From a daily view, this pair appears bullish. We can see price respect support and move bullish on the 4hr , at the moment price is what i would see as a pullback and there is potential for price to go long again at the marked grey line.
entry - grey line
stop loss - red line
take profit - green line
risk exposure - 1%
risk to reward 1:2
I will be doing a...
Possible strong pullback towards the trend line for AUDNZD. Price has broken trend line channel to the upside and now would be a good time to place a sell trade on the pullback to the trend line. Price has also been moving under both the 200 and 50 EMA which is still indicating a strong short bias. I expect the price to move back to the trend line and then go all...