AUDNZD: Time To Expand The Pattern Even More?AUDNZD: Time To Expand The Pattern Even More?
Technical Analysis:
From 01-Jul-24 the AUDNZD is moving within a major corrective pattern.
The pattern shows strong horizontal resistance at the top and continues to expand at the bottom thus indicating that the volume of the drop is increasing each time the price resumes the downward movement.
AUDNZD can retest again the support line of the pattern near 1.1040
You may find more details in the chart!
Thank you and Good Luck!
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AUDNZD trade ideas
AUDNZD Trading Opportunity! SELL!
My dear followers,
This is my opinion on the AUDNZD next move:
The asset is approaching an important pivot point 1.1142
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 1.1115
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
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WISH YOU ALL LUCK
AUDNZD: Curve Analysis (3D)TECHNICALLY:
The market is displaying a combination of signals. Although certain indicators point towards potential overbought conditions and selling pressure, most oscillators are showing a neutral stance. This discrepancy in indicators could indicate a phase of market consolidation or uncertainty, with the possibility of a significant move in either direction. Additional analysis, taking into account various technical indicators and fundamental factors, would be required to ascertain the potential future direction of the AUDNZD.
According to the moving average data for AUDNZD, there is a clear bullish bias. The alignment of most moving averages indicates a possible uptrend. Nevertheless, it's worth mentioning that the Hull Moving Average (HMA) is currently suggesting a sell signal. This could imply the presence of short-term resistance or a potential pullback. In general, the prevailing optimistic sentiment from the other indicators may overshadow this one negative signal, but it is important for traders to exercise caution and closely observe the movement of prices.
The Australian and New Zealand dollars hovered close to their lowest levels in months on Tuesday as investors eagerly awaited crucial local inflation data and a series of central bank meetings overseas that are expected to have a significant impact on the market. The Australian dollar dropped to $0.6535 against the US dollar, slightly above the lowest point it reached last week at $0.65105. The support level is located around $0.6455, while the resistance level is at $0.6595. The value of the New Zealand dollar appeared to be at risk, as it reached a level of $0.5870 against the US dollar. This is very close to its lowest point in April, which was $0.5853. A potential price break could lead to a target level of $0.5774, last observed in October 2023.
FUNDAMENTALLY:
The markets are anticipating the release of a significant report on Australian inflation on Wednesday. The findings of this report could have a significant impact on the possibility of another interest rate hike by the Reserve Bank of Australia (RBA). Projections indicate a modest increase of 1.0% in both headline consumer prices and core inflation during the second quarter. This would lead to a 3.8% annual CPI and 4.0% core inflation. That would exceed the RBA's target band of 2-3% and could lead to a closely contested decision at the central bank's upcoming policy meeting on Aug. 6. According to market indicators, there is currently a 22% probability of a quarter-point rate hike next week. However, the chances of a rate cut are minimal until at least April.
EUR/NZD Short and AUD/NZD LongEUR/NZD Short
Minimum entry requirements:
• Break above area of value.
• 1H impulse down below area of interest.
• If 3 touch 5 min continuation or 2 touch 5 min continuation with 3 touch structural approach, reduced risk entry on the break of it.
• If 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, 5 min risk entry within it, or reduced risk entry on the break of it.
AUD/NZD Long
Minimum entry requirements:
• If area of value tapped into by way of a three touch structural approach, risk entry after a 15 min rejection from it.
AUDNZD Trading Opportunity! BUY!
My dear friends,
AUDNZD looks like it will make a good move, and here are the details:
The market is trading on 1.1054 pivot level.
Bias -Bullish
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 1.1102
Recommended Stop Loss - 1.1023
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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WISH YOU ALL LUCK
AUDNZD: Bearish Continuation is Expected! Here is Why:
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current AUDNZD chart which, if analyzed properly, clearly points in the downward direction.
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AUDNZD - In Bullish TrendAUDNZD is observed in a bullish trend and a trend line can be plotted. Sentiments for this pair are SHORT because there is a divergence whose 2nd peak is way below 70 mark on the RSI scale. If we look at the AUD and NZD currency indices then ZXY is more bearish then AXY which points toward the buying option. Keeping the analysis on a 1H time frame in view, I have placed a pending order of Buy Stop.
The Signal is:
EP: 1.11308
SL: 1.10964
TP: 1.12000 (1:2)
RR: 0.25%
Lots: 0.11
Lingrid | AUDNZD in the Bullish TREND. LongFX:AUDNZD has pulled back from the resistance zone, despite the overall bullish trend remaining intact. Notably, the price broke and closed above the prolonged consolidation zone on the daily timeframe. The price action is forming a two-legged pullback against the main trend. After falling below the previous week's low, this could potentially be a fake breakout, which would be followed by a continuation of the uptrend. I believe the market will consolidate in this area before resuming its upward movement. I expect buying opportunuty at lower border of the channel. My goal is resistance zone at 1.10790
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Market Watch: AUD/NZD Faces Critical Resistance at 1.111400 LeveThe AUD/NZD 1-hour chart appears bearish as it struggles to break above the 1.111400 level, having double-tested this resistance, forming a potential double top pattern. This situation strongly suggests a downside trend. However, if the price manages to break above the current resistance level of 1.111400, it would indicate a bullish continuation. Let's observe how the market develops.