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Australian Dollar / New Zealand Dollar

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AUDNZD trade ideas

AUD/NZD: Double Trouble - Resistance & Fibonacci Signal BearishAUD/NZD has been confined within a well-defined bearish channel for a considerable period. This indicates a downtrend with a series of lower highs and lower lows. The price has recently reached a key resistance level that coincides with a significant Fibonacci retracement zone between 0.5 and 0.618. This confluence of technical factors suggests a high probability of a bearish breakout. Key Observations: Bearish Channel: Price action is clearly trapped within a descending channel, highlighting the ongoing downtrend. Resistance & Fibonacci Convergence: The current price zone near 1.095450 aligns with both a key resistance level and a critical Fibonacci retracement area (0.5 to 0.618). This confluence strengthens the bearish bias. Strong Bearish Momentum: Price action at this resistance level exhibits strong bearish momentum, suggesting a potential rejection and continuation of the downtrend. Trading Recommendation: Based on the technical observations, a short position on AUD/NZD appears favorable. However, proper risk management is crucial. Entry: A short position can be initiated on a confirmed break below the channel's lower trendline or a strong bearish candlestick reversal pattern at the current resistance level. Stop Loss (SL): A stop loss can be placed above the recent swing high or the upper trendline of the bearish channel, depending on your risk tolerance. Take Profit (TP): Potential take-profit targets can be identified based on Fibonacci extension levels or the measured move of the preceding bearish leg within the channel. Risk Management: Remember, always adhere to proper risk management principles. Ensure your stop loss is strategically placed to limit potential losses, and take profit targets should be established based on your risk-reward ratio. Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Always conduct your own research and due diligence before making any trading decisions.
Short
by trading_jupiter
AN to more downside...Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Last week's PA show as that likely pullback on Audnzd should be for shorts. Let's watch and be mindful of next week's Nzd rate news Do check out my recorded video (in trading ideas) for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
Short
by Shadowing_The_Big_Boys
BUY AUDNZD for uptrend continuation BUY AUDNZD for uptrend continuation STOP LOSS : 1.08897 There is a strong trend on the daily time frame and all that have happened in the past days was just consolidation ( or trend pull back before continuation) ..... The daily time frame is showing strength continuation from this level of support and resistance so we are looking for the trend to push forward from here ..... TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here
Long
by BALE_FX