AUDNZD Long
The Aussie has gained on the Kiwi from Parity of March 2020 and has risen to 1.08 , with a 3 mth period of consolidation.
A breakout of this consolidation may occur . The bias is to the long side. ( with alignment of all 4 short term Daily MAV within the last 2 bars) .
1. Enter Long - on present bar
2. Target - 1.1475 ( 618 extension of swing from parity) . In doing so, it will encounter resistance from year highs of 2015-2018.
3. Stop - 1.0550 ( below swing low) . A more aggressive stop 1.0660 ( 3atr)
4. RR = 2
A breakout of this consolidation may occur . The bias is to the long side. ( with alignment of all 4 short term Daily MAV within the last 2 bars) .
1. Enter Long - on present bar
2. Target - 1.1475 ( 618 extension of swing from parity) . In doing so, it will encounter resistance from year highs of 2015-2018.
3. Stop - 1.0550 ( below swing low) . A more aggressive stop 1.0660 ( 3atr)
4. RR = 2
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.