#AUDNZD - KEY STRUCTURE BREAKWe have clear daily trend change with RSI divergences.
Wait for break and close below 1.6030 on smaller time frames, H4 or at least H1 and short the pair on retest.
Tp1 1.0585
Tp2 1.0540
SL above last H4 swing
Good luck!
Audnzdtradeplan
AUDNZD SET TO RALLY 1600 PIPS IN THE NEXT FEW MONTHSHi Traders,
The AUDNZD set to make a bullish impulsive move in wave (C) of a weekly zigzag pattern.
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The weekly chart () of AUDNZD shows that the decline from March 2011 - April 2015 was a textbook five-wave impulse which supposed to followed by a three-wave correction according to Elliot Wave theory.
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Since April 2015 low, prices had completed a five-wave impulse in (A), a double zigzag in wave (B) and prices are in wave (C) of the supposed three-wave corrective structure.
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Not only that Elliot wave confirm the completion of wave (B), weekly price action also closed as a bullish engulfing bar from a key support level.
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Working down to the H4 timeframe, we can also see that prices have broken out of a descending wedge and resistance level in wave (i). Once the wave (i) is completed, we will look for a three-wave correction in wave (ii) to position ourselves in the emerging bullish trend.
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The overall target for this move is around 50.0% retracement of the decline which lined up with the level where wave (A) equals wave (B).
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I wish you all a fantastic start to Q2.
Veejahbee.
(Buy) AUDNZD Technical Analysis for April 4, 2018Chances of AUD gaining is high. not only are prices trending at major supports in the 4HR chart but they are at oversold territory in the weekly chart. Furthermore, there is an under-valuation in the 4HR chart complete with a buy signal in place.
Stops at 1.05 and a minimum of 350 pips in profit in the coming weeks.
