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Australian Dollar / New Zealand Dollar
Short

AUDNZD DAILY SHORT

By remelthomas
IM ALREADY SHORT IN THIS PAIR BUT IF PRICE RETRACES AND TAKES ME OUT OF THE TRADE THEN THE NEXT LEVEL I'D LOOK TO SELL IS AT MY CLUSTER ZONE/SELL ZONE. IVE GOT LOADS OF CONFLUENCES AT THIS LEVEL WHICH ARE THE 0.5 AND 61.8 FIB, SUPPORT TURNED RESISTANCE STRUCTURE LEVEL, MAJOR TRENDLINE, DYNAMIC RESISTANCE (50 MA) AND A NICE PSYCHOLOGICAL ROUND NUMBER (1.03000). Another confluence is this trade setup is in line with the fundamentals because the RBA (reserve bank of Australia) said there is a possibly there could be another rate cut in the period ahead.
0.50.61850sma618 Fibonacci RetracementaudAUDNZDaudnzdpullbackaudnzdshortaussieBearish PatternsclustercontinuationdynamicdynamiclevelsfibFibonacciFibonacci RetracementFundamental AnalysisnewzealandNZDpatiencepsychologicalpullbackretrcementroundnumberSELLselloffsellzoneshortsupportSupport and ResistancetrendcontinuationTrend Lines
remelthomas
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