Hi guys,
We have seen a tremendous downtrend in last couple of days and price has reached to major level of structure from where we see price reacts and we have a nice reversing candle on the 4h chart sitting at bottom suggests a trend reversal for now.
I have gone long and marked tp and sl for you as well.
Let me know your thoughts.
Trade safe and good luck.
Midterm forecast:
While the price is above the support 1.0660, resumption of uptrend is expected.
We make sure when the resistance at 1.0850 breaks.
If the support at 1.0660 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades, if the Midterm level 1.0660 is broken.
Technical analysis:
A trough is formed in...
AUSSIE DOLLAR HAD BAD FUNDAMENTAL NEWS LAST WEEK AND CAUSED A DRAMATIC RALLY DOWN, PRICE IS CURRENTLY IN A KEY SUPPLY/DEMAND ZONE BUT NO CONFIRMATION FOR ENTRY YET. AS YOU CAN SEE BY THE ANALYSIS TWO OPTIONS WITH THIS PAIR, PRICE ACTION WILL RESPECT CURRENT ZONE AND GO BACK UP TO RETEST PREVIOUS HIGH OR RALLYING WILL CONTINUE DOWN AND SHOULD FIND SUPPORT SOMEWHERE...
There is a quite nice opportunity to enter a buy position once this beauty hits the next s/r zone and trendline.
My analysis is simple as always, but if you have any questions feel free to text me on TELEGRAM, my user name i Abid_fx.
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In my view, AUDNZD will be bearish the following days.
The market has recently reached a major trendline and we see a clear rejection + dodji formations.
+ note RSI divergence
I think that the pair will drop at least to 1.07 & 1.06 stucture levels.
Hi folks,
I've been watching this pair for some time now. Price has pushed up and made a nice double top with a bearish engulfing candle on the 4h chart alongside a bearish candle on the D1 chart as well. Which suggests a trend reversal. I have gone short on this pair and marked tp and sl for you as well.
Let me know your view as well.
Trade safe and good...
AUDNZD - short term bullish bias
The Australian dollar has gained the upper hand after it found support again at 1.0670. In the medium term, the price action is in a flag consolidation on the daily chart and sentiment remains upbeat. This offers intraday traders opportunities to go along with the underlying trend. The RSI divergence was followed up by a bullish...
The two Australasian currencies are represented in the Australian Dollar vs. the New Zealand Dollar pair. High Rollover rates and like geographical locations cause them to often trade alike against other currencies. Because of this the pair is not extremely affected by global factors or trends but instead reacts more to changes in the local economies.
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