$AUDNZD - Moves inside the flagHi guys!
Wave 2 may result in investments in safe-haven assets as Gold and Bitcoin (as it seems).
Since the Australian Dollar is correlated to Gold, we should expect a contemporary moves of the AUD against it's quoting currencies.
Gold as the Australian Dollar against major pairs had tested an important dynamic support and rebounced, this might bring in some singnificant signals to investors among the Covid wave 2 to purchase Gold right now. As the US Election is getting close, the volatility may as well rise.
Despite the fact that a regular Bullish flag pattern implies a 5-wave move inside the flag before the breakout, however I think that the pattern here is complete and AUD may break the resistance soon enough.
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Aud-nzd
AUDNZD Trading Plan on the Daily chartMain items we can see on the chart:
a) Currently, the price is on the edge of a resistance zone + a descending trendline
b) There we can see a corrective structure (yellow lines)
c) The first thing we will wait for before trading is a clear breakout of the corrective structure
d) IF that happens we will look for corrective structures on the 1H chart, we will trade towards the next bullish target
AUDNZD tesding a daily structure 🦐AUDNZD after a bounce over the weekly structure around 1.07300 is now testing a daily structure.
Price retraced till the 0.382 fib level on a support structure and now will go for a second test of the daily resistance.
IF the price will manage to break and close above the daily structure we can set a nice long order according to Plancton's strategy.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
AUDNZD bounce over the 0.618 🦐After our last analysis on this pair we check what we expect next from AUDNZD pair.
The price has been moving inside a descending channel.
After breaking the resistance at 1.08300 price tested the support at 1.07800 and retest the upper structure.
Recently the market created a spike till exactly the 0.618 fib level of the previous upper leg before going back over the daily structure.
IF the price will break and close below the 1.07800 level we can set a nice short order according to Plancton's strategy.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
AUDNZD: Trading Plan For US Session
AUDNZD retesting a key daily structure resistance.
on hourly time frame the price is trading within a bullish flag pattern.
once the yellow supply area was reached, the price formed a double top with a lower high.
I want to see a bearish breakout of its horizontal minor support 1.0813 to short the pair.
target levels:
1.0792
1.0777
if the market sets a new higher high higher close within the flag, setup will be invalid
AUDNZD a short move 🦐AUDNZD after hitting the monthly descending trendline (purple) has started a retracement move on the previous bullish leg.
The market has now found a 4h support around the 1.08650 level.
IF the price will break and close below it, we can set a nice short order.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
AUDNZD: Important Breakout & Key Levels
hey guys,
sharp bearish rally started this night on AUDNZD.
1.083 strong structure support was easily broken and now short rally will most likely continue to the next structure.
based on 3 days chart analysis here are the key levels to look at:
1.065 - 1.069 support area is based on 2018's and 2019's price action. it might be a current goal for sellers.
1.05 - 1.1056 support area is based on current year's and 2019's price action and 2018's low.
1.081 - 1.085 is our closest resistance area.
remember that the best and safest trading opportunities are always from key levels.
AUDNZD 4h analysis 🦐AUDNZD after hitting the weekly resistance retraced back till the 0.618 fib level inside a discending channel.
Market is now consolidating below a minor resistance.
IF the market will break and close above the resistance area and consequently break the channel, we can set a nice long order according with Plancton's strategy.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger
AUDNZD: Don't MISS This Short Trade!!!
AUDNZD is stuck on a strong 4H resistance cluster.
on 1H the price is trading within a narrow horizontal trading range,
and it is currently in an attempt to break that.
in case of 1H candle close below 1.089 support I will short the pair.
targets:
1.087
10.0856
AUDNZD: Key Level Trade Explained
AUDNZD reached a key daily horizontal structure.
pullback from that will be highly probable.
on 4h/1h the price stopped falling and formed an inverted head and shoulders pattern.
I am waiting for a 1H candle close above the yellow neckline to buy the pair.
target levels:
1.087
1.0895
Don't miss the great sell opportunity in AUDNZDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.096). 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 downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.
Take Profits:
TP1= @ 1.0900
TP2= @ 1.0855
TP3= @ 1.0830
TP4= @ 1.0800
TP5= @ 1.0763
SL: Break Above R2
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Don't miss the great sell opportunity in AUDNZDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.096). 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 downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.
Take Profits:
TP1= @ 1.0900
TP2= @ 1.0855
TP3= @ 1.0830
TP4= @ 1.0800
TP5= @ 1.0763
SL: Break Above R2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️