Kiwi Aussie Dollar to Retest 50EMA Support
The Kiwi Aussie Dollar has been surging since start of February this year.
At the 15m chart, the pair is approaching another retest of the 50EMA dynamic support level. If we see a price rejection on that level, we can short the market
with our stop loss above the 23.6% Fibonacci retracement level and our TP on the previous swing low. This gives a 1:2.8 RR Ratio.
If the price surges beyond the swing low, we can trail our stop to that swing low and our TP adjusted to the next zone of 0.9475. This would give us
an impressive 1:5 RR Ratio.
At the 15m chart, the pair is approaching another retest of the 50EMA dynamic support level. If we see a price rejection on that level, we can short the market
with our stop loss above the 23.6% Fibonacci retracement level and our TP on the previous swing low. This gives a 1:2.8 RR Ratio.
If the price surges beyond the swing low, we can trail our stop to that swing low and our TP adjusted to the next zone of 0.9475. This would give us
an impressive 1:5 RR Ratio.
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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.