Potential Head and shoulders pattern nearly formed on the daily chart of the AUD/NZD pair im already long from 1.0550.. 200 sma around the same area as the neckline will be keeping a close eye on this to see if it breaks if so will add to my current position on the re test
Talking Points: AUDNZD Technical Strategy: Re-initiating Long position Elliottwave Count: Reversal is in process after wave 2 completion Analysis AUDNZD is expecting to complete it's wave 2 correction @ 1.0350 after having an high over 1.0726. We were seen corrective move towards 1.0350 in expanded flat correction. We also had a nice bounce from channel...
Approaching key flip zone area. If it breaks through this 1.08 zone, expect more bull to rush in. However, if a rejection candle shows up.. It would provide a good LRE for a short position. Wait and see.. Key Resistance - 1.08 Key Support - 1.06635 - 1.06 - 1.05
Talking Point: Technical Strategy: Turning Bullish Elliottwave View: Possibly flat correction over. Analysis We were bullish on AUDNZD since Sept month and booked handsome profit on reversal 1.0340. We now looking to re-initiate long position on confirmation. Current pricing structure suggesting a flat correction near previous wave 4 region. This region...
AUD/NZD failed to break above neckline, is extending downside for second consecutive day. The pair has slipped below major support by 20-DMA at 1.0643. Technical studies are bearish, RSI and Stochs are biased lower. We see scope for test of 1.0588 (Oct 21st low), bearish invalidation only above 200-DMA at 1.0709. Major support levels - 1.0613 (Oct 24 low),...
AUD/NZD forms 'Inverted Head & Shoulders' pattern on daily charts. The pair has broken major 200-DMA resistance at 1.0710, bias remains higher. Technicals support upside in the pair, Stochs and RSI are biased higher. Breakout above neckline at 1.0770 could see gains upto 1.0920. On the flipside, rejection at neckline could drag the pair to 1.0590...
Aud/Nzd short trade based on price action strategy. Price broke the channel line support and is likely to test the structure support at 1.0470 and then 1.0320.
AUD/NZD provides more bearish conformation, bias lower, stay short. Technicals clearly bearish, RSI is biased lower, Stochs have confirmed a bearish crossover from overbought levels. MACD is on the verge of a bearish crossover on signal line. Major support levels - 1.06, 1.0593 (20-DMA), 1.056 (20-DMA & 38.2% Fib), 1.05 (50% Fib) Major resistance levels -...
Potential head and shlders pattern forming on the AUD/NZD 4 hour chart bulls look like they're really struggling to take prices higher.. also price at the neckline of a inverse head & shoulders on the daily chart
AUD/NZD has broken major resistance at 1.066 levels (38.2% Fib, major trendline). Technical studies are bullish, MACD and Stochs are biased higher. Some caution advised as Stochs are in extreme overbought territory, RSI strength at 72 levels. Strong support at 1.05 levels, we see weakness only on break below. Major support levels - 1.0655 (38.2% Fib of 1.1333...
Idea to sell after the breakdown of the rising wedge pattern. Wait for confirmation on price action before going short.