Probability of price breaking away from the purple range (highlighted on the chart) by 600-980 pips is >85% Note: Grey lines are anticipated pivots to instate the big move
Commodity currencies are just squeezing up and it seems like there is more space to go... Going long in NZD against CHF seems like an opportunity to participate in this move. NZDCHF has broken key resistance level around 0.5985, which now turned into support and it might act as possible price for joining bulls with S/L around 0.5900 and T/P around...
AUD was under pressure since the beginning of the year, which was stopped last week. On Friday there was a correction move, which might provide another opportunity for joining bears. There could be a pullback from the price zone between 0.6925-0.6965. It's better to enter a position with higher R:R, in my case the number is around 0.694, with stop above 0.6965...
Lately, the Aussie Dollar has been picking up steam but came short as it hit the downtrend line. The rally on the Aussie may have been exhausted, or it could be taking a break. We'll wait to see what happens. Happy Trading, folks! Cheers!
after the daily engulfing pattern we wait for a retracement to finish the inverse head and shoulders pattern that will target 61.8 or 76.4 % fibo level from last low to last high scored. risk to reward ratio is great we might look for another short from above since the weekly chart looks weak.
the Aussie is completing wave c which should be up in 5 waves targeting 100% fibo expansion. d'ont forget that gold is giving a bullish signal and the Aussie dollar is named the commodity currency. stop loss is near its a closing below the trend line drawn on chart. good luck!!!