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
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
Wait for the Symmentrical triangle Breakout
NZDCHF is facing stiff resistance at 200MA (weekly) and 20MA )monthly. NZDCAD rejected at 200MA NZDUSD rejected at 0.6820 its 100EMA Trade idea: AUDNZD: Buy between market rate (cmp 1.0710) -1.0650 use stop loss below 1.0620 targets 1.0840 and 1.0880
Price action trading inside a triangle on weekly time frame. Looks a likes bears may push price down to the bottom of triangle(lower line sum support line). It also look likes that HS pattern on the same time frame is being formed. Therefore, if neckline of HS Pattern is broken, it may give us more pips in the long run. I will separately post the chart for H-S...
.- ALERT SIGNAL FOR POSITIONAL TRADE ALERT SIGNAL DATE -14/10/2018 SELL ENTRY 1 - 1.09559 SELL ENTRY 2 - 1.09814 STOPLOSS- 1.10042 TARGET 1 - 1.09307 TARGET 2 - 1.09041 Hit like, comment and follow for more profitable Trades. Happy trading. THANK YOU HOW WEEKLEY WIT SIGNAL IS VALID FOR DAILY INCOME TRADER(DIT) 1,IT IS VALID UPTO 24 HOURS,ONCE IT HITS...