A trade I picked up tonight.
Fundamental:
-AUD to weaken from CNY weakness as they fail to make 880bln in loans
-economic performance expected to decline as outlined by Lowe
Technicals:
-strong rejection off end of daily range
-supports built at swing low, first candle (1st arrow)
Sentiment:
-AUD overextended but GBP also weak
-maybe if gold continues down AUD...
Technically facing supply and sellers entering since downward arrow.
Fundamentally, the CAD is due to gain back some value as oil beings to recover.
DXY being squeezed into the 100s.
This is an idea based on accumulation/distribution cycles, order flow, and fundamentals. You will need to know those.
NZDUSD came from a downtrend and found support around 0.6283 where buying slowly started and accumulation began late September ahead of a string of huge misses in USD indicators.
The market then pushed price above 0.6340 liquidity and straight...
