AUD NZD is bullish with misleading head and shouldersHi just my opinion - we have a misleading head and shoulders type pattern
right now 7 hour has very bullish momentum - i expect we get back above trendline support and have continuation on our move
switch to daily chart as well and you will see a different pattern
we have the 7 hour ema cross 7 over 17 ema just holding and green ichi cloud ahead on the 7 hour
Aud-nzd
AUD/NZD SELL (BEAR FLAG)POTENTIAL TRADE : AUD/NZD
This particular currency pair is currently forming a bearish flag after an impulsive leg down. Short positions at current market price look appealing with stops placed above the 1.0450 region.
We are also observing the head and shoulder formation in this currency pair. The head being the market top at 1.050 and the left shoulder creating the zone resistance at 1.0450 where we are placing our sell orders.
TRADE PARAMETERS:
Entry Price - 1.044
Stop Price - 1.047 (30 pip)
Target Price - 1.03 (140 pip)
AUDNZD going longAUDNZD right now is testing a hard resistance zone but as soon as it goes through it the price will go long to hit another stronger resistance @1.076
my entry point will be: 1.04697
and targets will be:
TP(1): 1.0618
TP(2): 1.0664
and SL: 121.881
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AUDNZD still bullish!! 300pipsPrice did respect that 1.0320 zone, going now 100pips above it! i believe this momentum could take price to at least 1.0530! Waiting for that break of resistance before going in with another buy! If we see a breakout below 1.0400, we could see another re-test of the 1.0320.
What do you think?? Let me know!! Also, join me on group chat so we can talk aout all the analysis!! t.me/tradingbayfx
Don't miss the great buy opportunity in AUDNZDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.0436). 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 uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 1.0520
TP2= @ 1.0603
TP3= @ 1.0660
SL= Break below S2
Don't miss the great buy opportunity in AUDNZDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.0436). 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 uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 1.0520
TP2= @ 1.0603
TP3= @ 1.0660
SL= Break below S2
AudNzd on 4hrs(Sell)Hello fam welcome to a new trade week. Lets follow and stay updated on my NASDAQ analyses and fx pairs, I see AudNzd trying to form a new trend, So i expect a push back down to bottom trend line(Supports).. NB: As long as resistance inst broken then sell!. Please also comment, like follow me and share your ideas on this particular pair too. thanks!
Short term pullback on AUDNZD, long term bullAs seen on the charts, on the short term (1D), it seems like AUDNZD is going to have a drawback, but on the long term (1W) chart, it looks like AUDNZD is going to continue the trend that has been developing for a while now - I don't see a reason to why it would break that trend.
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AUD/NZDTF: Day
Another interesting setup. Some bullish divergence is forming on the stochastic and RSI while price action has been trading/consolidating from around December 10, 2019 to today.
However, something to note is that price is trading near the bottom of a broadening wedge that price has been trading in since December 2018.
Something I am keeping my eye on over the next few months