Last hope remains between 1.0525-1.1485<1.0400, 1.0350/1.0325
The 161.8% A-B-C corrective structure points at 1.0480 (1.1175-1.0850-1.0994)
The H&S pattern aiming at 1.0525, so far today's low is 1.0524
Overall between 1.0525-1.0480 is major support – a break would trigger a downgrade
With the quiet wage growth and low inflation, the RBA likely to paint a neutral color in August meeting.
With the low inflation, we expect the RBNZ is expected to keep the OCR at 1.75%.
The bulls should hold the 1.0850 to continue the uptrend to 1.1020 and 1.1070-1.1100 with potential resistance exists at the 61.8% and 80.0% fib reactions.
I am focusing on buy stop orders to trade this pair today. So, just wait for the price to gain enough momentum to take it further. No entry before that. All the best.
some confirmation for upside move
1. double bottom - Bullish reversal pattern
2. bullish divergence
Entry - buy stop on neckline
stop loss - below the low of double bottom
Risk reward ratio 1:1 for ist trade and 1:2 for second trade
risk - 1 percent of total portfolio
AUDNZD has been on bullish trend for some time now. I am expecting a touch on the support and a strong bull trend continuation. Remember to use proper risk management. Lets Download Success.
Head and shoulder pattern structure formed
Market now in neck level of head and shoulder and another for wait trend line support level breakout after entering the trade
Target 1 🎯1.0879
Target 2 🎯1.0819
Target 3 🎯1.0636
Trading Ideas-
Long positions above 1.0838 with targets at 1.1204 & 1.1306
Alternative scenario
If price goes down 1.0838 look for 1.0674 & 1.0576 as targets.
Supports and resistances
1.0674 & 1.0576
1.1204 & 1.1306
Trading Ideas-
Long positions above 1.0900 with targets at 1.1287 & 1.1396
Alternative scenario
If price goes down 1.0900 look for 1.0724 & 1.0626 as targets.
Supports and resistances
1.0724 & 1.0626
1.1287 & 1.1396
The Price Broke a ascending channel but it still within an another ascending channel any pullback near to resistance at 1.09400 we take a sell position until arrive a dynamic support
if you like the idea, do not forget to support with a like and follow.
