PAIR IN FOCUS: AUDNZD
ACTION: POTENTIAL LONG
As we can observe, price has move in a downward channel for the past 3 months and has broken out of it with a strong bull candle the past week due to the RBNZ surprise rate cut of 0.5%. The wick of the bull candle which can be seen on the Daily and Weekly candles show rejection to the downside. Waiting for a good entry (retest of the downward channel) before entering into this trade.
Entry zone, TP 1, TP 2 and SL have been indicated on the charting.
ACTION: POTENTIAL LONG
As we can observe, price has move in a downward channel for the past 3 months and has broken out of it with a strong bull candle the past week due to the RBNZ surprise rate cut of 0.5%. The wick of the bull candle which can be seen on the Daily and Weekly candles show rejection to the downside. Waiting for a good entry (retest of the downward channel) before entering into this trade.
Entry zone, TP 1, TP 2 and SL have been indicated on the charting.
Note
TP 1 HIT!Trade closed: target reached
TP 2 HIT!
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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.