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Australian Dollar / New Zealand Dollar

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AUDNZD trade ideas

AUDNZD - Trend Reversal Around The Corner!- Pair is currently making HH and HL showing classic up trend. - Last impulse limb went from 1.08628 to 1.09155. - Since, price has retraced to almost 0.618 Fibonacci retracement value making HL of 1.08838. - Price has completely retraced to trend line - Bullish confluence is observed by price moving to 0.618 fib level and touching trend line - Bearish divergence has been identified from last two HH, with prospects of change in trend more evident. - Wait & See should be observed at this point, till market responds to bearish divergence - No trades should be taken at this moment
by AnalytixEdgeByQasim
1
AUD/NZD (SHORT - SELL)AUD/NZD (SHORT - SELL) AUD/NZD is currently starting a consolidation with a possible bearish reversal. It has clearly reached a major resistance area on the daily and weekly chart. It could possibly still go up to 1.09350 before the trend reversal take full effect. The weekly and daily resistance area has been tested twice in the past and have failed, this is now the third attempt. The AUD/NZD on the daily and weekly is clearly in an overbought status where a pullback and possible reversal could be starting to occur. Should the AUD/NZD continue on its current bullish trend it has a two major resistance areas at at 1.09202 and 1.10212 to break through. The resistance area at 1.09202 has been tested and failed twice. The resistance area at 1.10212 has been tested and failed once. Both these strong resistance areas as on the daily and weekly. The Monthly trend is Bearish The Weekly trend is Bearish The Daily trend is Bearish Weekly Momentum Indicator turned from a Buy to a Sell. a Harmonic Shark Bearish Pattern has formed, indicating a further potential reversal zone on the 4H. Fundamental Consideration: a RBA (Reserve Bank of Australia) meeting is occurring this Tuesday that will have an effect on AUD on monetary policy, including decisions on interest rates. These meetings typically occur monthly, with the outcomes closely watched by financial markets, economists, and the public because they can have significant impacts on currency values, interest rates, and the overall economy. The outlook for the AU remains highly uncertain. While there are encouraging signs that inflation is moderating, the economic outlook remains uncertain. The December quarter national accounts data confirmed growth has slowed. Household consumption growth remains particularly weak amid high inflation and the rise in interest rates. After recent declines, real incomes have stabilised and are expected to grow from here, which is expected to support growth in consumption later in the year. Meanwhile, growth in unit labour costs remains very high. It has begun to moderate slightly as measured productivity growth has picked up in the past two quarters but whether this trend will be sustained is uncertain. The central forecasts are for inflation to return to the target range of 2–3 per cent in 2025, and to the midpoint in 2026. The Retail Community Outlook for this trade is as follows: Around 56629 SHORT – 97% Around 3126 lots LONG – 3% We are already actively SHORT on this trade Our Entry at 1.09021 Our SL at 1.09490 Our TP at 1.06500 (take partial profits during your trade, do not just rely on one TP) Good Luck – Trade Responsible Use 1% risk per Position! Always use a Trailing SL that you are comfortable with. Always strive to continuously improve your trading strategy and knowledge “The next Great Depression is on our doorsteps. The bank is more than men, it is a demonic monster destroying the common man”
Short
by Hilgard
2
AUDNZD Bottom and China's Relief RallyThesis: Speculators were overly positive regarding NZD's prospects for raising rates. In the end, the RBNZ maintained rates and were dovish. On top of this, China stock market is at peak pessimism with a relief rally currently in play. This should affect both AUD and NZD currencies, but especially, AUD; hence, I am holding out that AUD will strengthen against NZD in the medium-term for about two quarters. Technicals: There is no definite trend; however, there is definite support. Monthly: Monthly Support Monthly cloud support Note: Monthly chart has been flat since 2015. The price broke above the cloud in 2022 and has retraced to historical support and cloud support Feb 2024. This presents a potential good buying opportunity. Monthly chart: Weekly: Weekly engulfing at monthly average range support and weekly average range support w/ d3v: Daily: Some signs of life with short-term and Longer-term Daily uRd Close above the kijun with a DQ Daily chart: Other Factors: China at peak pessimism with a relief rally in play: Comment: I have decided to get in early at the potential bottom since it is at strong monthly support. There is no trend and there hasn't been a trend since 2015; and, I highly I doubt that this will be the start of one. I anticipate that this will be just a local bottom that may last a quarter.
Long
by Rocketman
2
Double Top AUDNZDDouble Top on the hourly chart. Investors can short trade after the break or place small trades, as double tops may have limited profit potential. How to identify a double top: Look for an Upswing: The price movement should be clearly in an uptrend prior to the creation of a double top. This indicates that the price has been making continuously higher highs and higher lows. Find the Initial Peak: Determine the uptrend's first peak. The price has now risen to its maximum level before beginning to fall. Find the Trough: Following the initial peak, the price will briefly fall. Find the valley or trough that develops following the initial peak. Find the Second Peak: The price will then rise once more in an effort to hit a new high. But this second rally will fall short of the first peak's height and begin to collapse once more. Verify the Pattern: To verify a double top pattern, make sure the decline that follows the second peak is lower than the trough that follows the first peak. This demonstrates that the previous resistance level was not successfully overcome by the price. Draw the Neckline. Connect the low points of the two troughs with a horizontal line. This is the neckline, which denotes a level of support. It serves as an essential pattern reference. Verify Double Top Pattern: To verify the double-top pattern, watch for a price break below the neckline. Breaking below the neckline might be interpreted as a sell signal because it portends a potential trend reversal. All points relevant here
Short
by CryptoCurse
AUDNZD Will Move Higher! Long! Take a look at our analysis for AUDNZD. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 1.087. The above observations make me that the market will inevitably achieve 1.092 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
AUDNZD:🔴Is it Bearish...?!🔴 Well, as you can see, the price took the liquidity and hit the important higher time frame resistant, so we expect a bearish move. Also, we can see the price generated a lot of sell-side liquidity that can be defined as targets. Now, the price has created a bearish FVG, we can enter a sell position in this zone, but as always we need LTF confirmation. 💡Wait for the update! 🗓️28/03/2024 🔎 DYOR 💌It is my honor to share your comments with me💌
Short
by VahidTradingCR
3
AUD/NZD next wave down(~500 pip)(3/26/2024)Hello Traders it looks like AUD/NZD is starting a new wave dive down into 1.035. The first correction wave A has been established then the price has made a horizontal triangle as wave B, by breaking down the horizontal triangle AUD/NZD has made a new wave down as C. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Short
by fortunamarkets