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Aud-nzd

ridethepig | AUDNZD Market Commentary 2019.11.29Here we are tracking further downside in the cross as NZD strength continues across the board before AUD takes the wheel in 2020. Among the commodity currencies, NZD stands out the most into year-end and those following the macro updates in Telegram and charts will know I have also been sitting long NZDCAD, with a dovish BoC and RBNZ 'hawkish' surprise there continues to be further upside: For AUDNZD flows, for the most part of 2019 the market has been heavily short NZD, and the NZD short cleansing pullback is likely to continue if regional growth and trade improves. Watching risk sentiment closely, with AUDJPY and NZDJPY coming to life intraday and with the power to drive the commodity currencies on other crosses. On the AUD side, RBA crystal clear about conditions needed for further easing and unlikely in the near-term. On the NZD side, RBNZ slightly hawkish surprise in the last meeting and see a lot of NZD shorts left that that need unwinding. With that in mind I see both AUD and NZD as bullish vs USD: As previously mentioned, confidence for those betting on the topside has increased dramatically after cracking 1.0620, watch closely for follow-throughs here into 2020 after the NZD outperformance theme fades away. Best of luck those already in positions and those looking to build swing positions into 2020. ...Please remember to keep the support coming with likes and comments!
by ridethepig
A second Chance to Buy in AUDNZDMidterm forecast: While the price is above the support 1.0660, resumption of uptrend is expected. We make sure when the resistance at 1.0850 breaks. If the support at 1.0660 is broken, the short-term forecast -resumption of uptrend- will be invalid. We will close our open trades, if the Midterm level 1.0660 is broken. Technical analysis: A trough is formed in daily chart at 1.0710 on 11/04/2019, so more gains maximum to Major Resistance (1.0850) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 65. New trading suggestion: *There is still a possibility of temporary retracement to suggested support line (1.0660). if so, traders can set orders based on Price Action and expect to reach short-term targets. * If you missed our first HUNT , you have a second chance to buy above the suggested support line (1.0660). Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Trade Setup: We opened 10 BUY trade(s) @ 1.0354 based on 'Hammer' entry method at 2019.08.06. Total Profit: 3595 pip Closed trade(s): 1659 pip Profit Open trade(s): 1936 pip Profit Closed Profit: TP1 @ 1.0430 touched at 2019.08.07 with 76 pip Profit. TP2 @ 1.0490 touched at 2019.08.07 with 136 pip Profit. TP3 @ 1.0585 touched at 2019.08.21 with 231 pip Profit. TP4 @ 1.0660 touched at 2019.08.29 with 306 pip Profit. TP5 @ 1.0760 touched at 2019.09.13 with 406 pip Profit. TP6 @ 1.0990 touched at 2019.10.07 with 504 pip Profit. 76 + 136 + 231 + 306 + 406 + 504 = 1659 pip Open Profit: Profit for one trade is 1.0838(current price) - 1.0354 (open price) = pip 4 trade(s) still open, therefore total profit for open trade(s) is 484 x 4 = 1936 pip All SLs moved to Break-even point. Take Profits: TP7= @ 1.0990 TP8= @ 1.1140 TP9= @ 1.1335 TP10= Free
Long
by ForecastCity
8
A second Chance to Buy in AUDNZDMidterm forecast: While the price is above the support 1.0660, resumption of uptrend is expected. We make sure when the resistance at 1.0850 breaks. If the support at 1.0660 is broken, the short-term forecast -resumption of uptrend- will be invalid. We will close our open trades, if the Midterm level 1.0660 is broken. Technical analysis: A trough is formed in daily chart at 1.0710 on 11/04/2019, so more gains maximum to Major Resistance (1.0850) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 65. New trading suggestion: *There is still a possibility of temporary retracement to suggested support line (1.0660). if so, traders can set orders based on Price Action and expect to reach short-term targets. * If you missed our first HUNT , you have a second chance to buy above the suggested support line (1.0660). Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Trade Setup: We opened 10 BUY trade(s) @ 1.0354 based on 'Hammer' entry method at 2019.08.06. Total Profit: 3595 pip Closed trade(s): 1659 pip Profit Open trade(s): 1936 pip Profit Closed Profit: TP1 @ 1.0430 touched at 2019.08.07 with 76 pip Profit. TP2 @ 1.0490 touched at 2019.08.07 with 136 pip Profit. TP3 @ 1.0585 touched at 2019.08.21 with 231 pip Profit. TP4 @ 1.0660 touched at 2019.08.29 with 306 pip Profit. TP5 @ 1.0760 touched at 2019.09.13 with 406 pip Profit. TP6 @ 1.0990 touched at 2019.10.07 with 504 pip Profit. 76 + 136 + 231 + 306 + 406 + 504 = 1659 pip Open Profit: Profit for one trade is 1.0838(current price) - 1.0354 (open price) = pip 4 trade(s) still open, therefore total profit for open trade(s) is 484 x 4 = 1936 pip All SLs moved to Break-even point. Take Profits: TP7= @ 1.0990 TP8= @ 1.1140 TP9= @ 1.1335 TP10= Free
Long
by ForecastCity
8