Hi Traders!
AUDNZD is approaching the range support area, and there is a possibility of a breakout to the downside.
Price Action 📊
There was a momentum break and close below the EMA to indicate that the bears are currently in control, and this will be the third time the bears have tested at the support area.
We are looking for a break and close below the support area.
Fundamental Analysis 📰
The market's outlook on New Zealand has been positive, with better than expected GDP figures announced for Q2, so traders are most likely bullish on the NZD.
Support 📉
1.07252 - 1.07394: SUPPORT AREA
Resistance 📈
1.09130 - 1.09265: RESISTANCE AREA
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
AUDNZD is approaching the range support area, and there is a possibility of a breakout to the downside.
Price Action 📊
There was a momentum break and close below the EMA to indicate that the bears are currently in control, and this will be the third time the bears have tested at the support area.
We are looking for a break and close below the support area.
Fundamental Analysis 📰
The market's outlook on New Zealand has been positive, with better than expected GDP figures announced for Q2, so traders are most likely bullish on the NZD.
Support 📉
1.07252 - 1.07394: SUPPORT AREA
Resistance 📈
1.09130 - 1.09265: RESISTANCE AREA
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Note
Approaching support area break.Note
Support area broken, looking for further bearish momentum to take the market further down.Note
Market continues the bearish momentum.Trade closed: target reached
Chart Idea complete
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
JOIN OUR FREE TELEGRAM CHANNEL
t.me/bluetonaFX
t.me/bluetonaFX
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.