Audnzdforecast
AUDNZD: Bearish outlook & supply setup
Hey traders,
FX:AUDNZD recently tested demand above the recent pivot high and failed. But in the process, stop orders in that zone were triggered, which qualifies as manipulation in my book.
We then got a strong drop, formed a short base and continued down breaking structure to confirm downtrend. The base is a nice supply zone in itself, where I expect resting orders to be placed and traders waiting to get in.
Last week we pulled back, but didn't quite reach the supply area. We also didn't fill the imbalance (yellow zone on chart) and the lower high here means liquidity is building above.
Lots of confluence here and logic dictates, that if we move up to fill the imbalance and tap into the lower high liquidity, the supply zone is a high probability are for price to reverse.
As a target, I'm simply looking at last week's low.
But I believe we can go further than that. 1.092 is a logical area looking at daily chart. Feel free to use it for TP2. This is also my scratch level. If we move here before getting a retracement to the supply zone, I'm discarding the trade.
Summary:
AUDNZD 4H SELL SETUP
Supply & Demand Trade
Entry: 1.10605
SL: 1.1095
TP: 1.09525
Scratch level: 1.092
AUD/NZD SHORT SELL OPPOTUNITY VIEW.
AronnoFX will not accept any liability for loss or damage as a result of
reliance on the information contained within this channel including
data, quotes, charts and buy/sell signals.
If you like this idea, do not forget to support with a like and follow.
Traders, if you like this idea or have your own opinion about it,
write in the comments. I will be glad.
AUD vs. NZD long potential with 4.70ish RRGoing to buy this level as the price is ranging from 1.0965 to 1.1050 for a week now. Its a bit risky as we can see more downtrend to 1.0930 maybe even to 1.0830. If that happens i'll wait for a retest then goint to get some short positions.Overall trend is still bullish.
AAUDNZD LONG IDEA 21ST JUNE 2022We have seen a clear HT demand zone holding price over the asian session and we are now currently seeing buyers in control of the momentum and knowing fully well we are in an uptrend long term we will buy from this zone and most likely the buyer's momentum will become very strong going into the london session.
AUDNZD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.