Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.04517). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . AUDNZD is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic...
Midterm forecast: While the price is above the support 1.0275, resumption of uptrend is expected. We make sure when the resistance at 1.0630 breaks. If the support at 1.0275 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. Price is...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.0419). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . AUDNZD is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support....
The pair has been trading in a falling channel pattern. Traders are suggested to go short at current prices with the target of 1.0475. After a success in this, the traders can grab the buy opportunity with same pattern as most likely the pair will rebound from lower trend line and move towards upper trend line of the channel.
The steep rally in AUD/NZD is losing its steam. It is marked by the formation of rising wedge pattern in the hourly chart. As expected, it vented a bearish breakout. Also, the MACD indicators has turned bearish and posits a incrementing bearish momentum. Hence, we have a bearish view of the counter for the short-term.
The counter is brimming with positive bias for the past few days. The price is at its trendline in the hourly chart. Hence, it’s a good opportunity to go long since we expect it to continue its bullish momentum.
The pair has made a double bottom in the hourly chart. It can retrace to support at 1.03147, for now, which is a good entry point for long trades. We expect the pair to move to the resistance at 1.03523.
In weekly time frame AUD/NZD Breakout trend line. Expect trade as per follow. SELL : 1.0655 TAKE PROFIT : 1.025 STOP LOSS : 1.07 FOREX IN WORLD
AUDNZD:- BREAKOUT OF TRENDLINE ON WEEKLY TIME FRAME PLUS FORMATION OF HEAD AND SHOULDER IS ALSO STRENGTHEN OUR BEARISH BIAS. SELL ON RETEST OF BROKEN TRENDLINE. USE SELL LIMIT@1.06050 SL@1.07 TP@1.024