in a long-term bear cycle. It is currently in its second leg of wave B. Further, it resembles a flag formation and is coming down after hitting the upper parallel. Hence, we expect the pair to be bearish and move to the lower parallel from here.
AUD/NZD New Setup Risk Reward 1:5
This pair is a bit of a mess.. we can see that price broke support and was pushed back up a little by the buyers.. the sellers forced price to break support so its safe to say we are setting up for a sell I am waiting for confirmation before jumping in as price could float about before dropping AUDNZD - SELL SL - 1.07165 TP - 1.04209
Once support has been broken and there is confirmation then we will sell to the green area As we can see from this chart price broken through once but quickly shot back up past support.. I am waiting for a clear signal before entry
- 1.0885-1.0850 is a strong resistance zone. price already showed rejection from the resistance zone. "Bearish pinbar" on weekly chart is our confirmation for sell. - If it breaks below 1.0645 level which is recent support then, our sell target would be 1.0350 - Price may again retest the resistance before falling.
BUY @1.07168 STOP LOSS @1.06647 TAKE PROFIT @1.08322 TRAIL @1.06908
AUDNZD BEARISH please leave a follow and like if you find it useful and I will keep posting for you guys!
AUDNZD has reached to the top of the channel and needs a retest of 1.0540 I am short term bearish as it is under negative divergence with a bounce lower from the critical resistance. The first level to the downside is 1.06650 followed by 1.0540 Please note that it is a short term bearish idea which will be invalidated if the price breaks above the resistance...
We are looking for entering a long position after breaking the trendline. If we will be able to break the Key Level, we would be placing buy entry.
watch price action on the key area (blue box) price is looking to retest that area (previously resistance, now acts as support) watch for confirmation and possible long entries on lower time frames.
AUD/NZD is showing weakness breaking all H1 support areas in its way. We are placing the first target at a strong key level and second one at trendline combined with key level support area.
AUDNZD broke the up channel. The price confirms that it is bearish at 1.745.
bearish Bat pattern. it will make me more bearish if it can make a retest to the trend line.