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...
We can see a clear break of the descending trend-line that has held strong from August last year.
We have created a new high on the break of this Descending trend-line with the pull back already at the 50 Fib.
We are looking to enter on the 61.8 Fib which is on a clear level of support. The entry will be sent out when the market is open as we will use the 4hr...
We look for the emergence of a double bottom and multiple resistance levels represented by the purple box. and opportunities for profit around 1.05782 and 1.05937
We were looking to go long on this pair, however the pull back didn’t come to our entry and we missed this by 40 pips. We saw the market stop at the 50 Fib.
We have a descending trenline that were approaching fast, if we can see a rejection of this we could still get a retracement back to our level of entry.
Having a look here into the AUD/NZD, technically I see a major key level @1.05454 where wave 5 will initiate its long as wave 4 comes to a close.
My key level here is located at the high of wave 1, which wave 4 cannot violate if this Elliot Wave analysis is to be validated. If the Key level is broken, I expect my 'Buy Zone' area to react as a strong support...
Price is at a point where it is either going to respect the trend and head up to at least the 4hr 0.618 or break and retest and head down to the Daily 0.618.
Long term trade with strong trend analysis. Looking for slow but steady sell-off, with a low lot size. We also look for a falling wedge leading to a possible downward breakout.
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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