AUDNZD - SWING - 03. AUGU. 2020Welcome to our weekly trade setup ( AUDNZD )!
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1 HOUR
Bearish price action right now..
4 HOUR
Overall bullish market formed new highs.
DAILY
Expecting prices to turn bearish now, good short entries!
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FOREX SWING
SELL AUDNZD
ENTRY LEVEL @ 1.07510
SL @ 1.07940
TP @ 1.06870
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
Audnzdshort
AUDNZD H1 SHORT PRICE ACTION FORECAST -UPDATE-Market bearish momentum was captured yesterday, as shown in the previous analysis. I didn't reach the T/P level, but it was a good entry for a 1:1.7 risk to reward ratio.
Today, after reaching the previous resistance level in confluence with the retest of the ascending trendline, it allows shorting the pair again, with the following setup.
The order:
Type: sell-limit
S/L: 20 pips - R:R | 1:2 -
T/P: FIB level
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AUDNZD Short Opportunity - Catch the DowntrendAUDNZD is traveling in a trend channel that's visible on the 1-hr chart. Price deflected off the upper guardrail today and, as expected, sank lower, solidifying the downtrend. The target for the AUDNZD is the lower guardrail on the channel. Since price is expected to go much lower, now is the time to catch the downtrend. It would be nice to wait for a pull back before locking in a short position.
On the fundamental side, given rising COVID-19 cases in Australia, it is clear that lockdowns will have to be prolonged, and we will likely see more and more cases as the days go buy, leading to worsening sentiment in the AUD. Since New Zealand is doing relatively better in controlling the virus, I expect price will continue in a downtrend for the next few days, though we can expect consolidations and corrections along the way.
AUDNZD H1 SHORT PRICE ACTION FORECAST The price broke the bullish trend after failing to form a fresh HH. The price is under a strong bearish sentiment with the potential to experience a technical correction towards the FIB level from the extension tool. The current price structure allows the setup of a short entry with the following characteristics.
The order:
Type: sell-stop
S/L: 22 pips - R:R | 1:2 -
T/P: Fib level
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AUD/NZD at key resistance💡Hello traders,
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AUD/NZD has approached key resistance on daily chart. There is a uptrend in play for this pair and price might look for new highs.
Let us know what you think about this idea.
Trade safe !
AUD/NZD could go lower from this point💡Hello traders,
Hope you are having fantastic summer and also are finding time for trading as well :)
I will really appreciate any likes and follows, that would help grow this channel.
AUD/NZD has approached horizontal resistance line and could go lower from this point.
Let us know what you think about this idea.
Trade safe !
AUD/NZD descending channel💡Hello traders,
Hope you are having fantastic summer and also are finding time for trading as well :)
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Let's take a look at AUD/NZD on 4H chart. We can see descending channel has been formed. Price has been rejected from resistance line from this channel we believe that price will go down from this point.
Let us know what you think about this idea.
Trade safe !
AUD/NZD could go down!Hey tradomaniacs,
after a massive pump bulls seems to save profits at the current key-resistance area where more bearish confluence could take place.
Good chance to short this pair.
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Peace and good trades
Irasor
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AUD/NZD Bears In Control?Good day, snipers. Here in the AUD/NZD, we are about to retest the minor resistance zone formed in lower and higher time frames. This zone was also considered as the 61.8 Fib level, where I expect movements to the downside. RSI also shows it is in overbought territory. I will be looking for a bearish confirmation before going short. If price makes a higher high, I am out of this trade, that's why stop loss is quite tight.
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AUDNZD Still BEARISH Looking!!! Lets see why...Lets start off by looking at the price action for AUDNZD, we can see that BULLISH strength has faded giving rise to BEARISH potential. This can be seen from the yellow dotted line I drawn and what we are seeing now is a BEARISH fall. For now, what we saw was a retest to 1.0612 resistance level which it recently broke through. Thus, I will be looking at a nice sell opportunity from this level heading towards 50 fib level minimally. There is also a rather strong support level @ 1.0455 which I will be observing. Having said that, if we see a breakthrough we could potentially go all the way down to 61.8 fib level. As of now, I will be trading BEARISH on AUDNZD as I will be seeing this BULLISH movement as a retest to resistance level. This idea will be subjected to changes if we see a breakout of 23.6 fib level.
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AUDNZD, daily chart, double top pattern in playBased on the daily chart we could clearly see AUDNZD has a double top pattern and price already broken through the support.
Price broke through the support since June 10th and then consolidating around it for 3 weeks. The last 2 day candle indicates selling pressure by the form of candles which looks like bearish pinbar / shooting star candle.
Also keep in mind AUD now in pressure because they gonna start with another lockdown which will give pressure to their currency.
Sell AUDNZD 1.0620
Stop loss 1.0680
Take profit 1 @1.0560
Take profit 2 @1.0500
good luck