AUDNZD: Time and price target for a reversalOk, some traders noticed this vertical advance and want to short it.
I do too, but not for now. I'll wait for confirmation before going short, but it looks like a potentially very good trade.
It's reassuring that we are at the start of a new quarter, and many trends will start to reverse, and many pairs will come out of consolidation patterns as money managers take profits to show results to their investors, and also, the Grexit drama rears its ugly head once again, during tonight's Asia/London session.
I'm considering this trade, once the price in the daily and 4h charts confirm the entry.
For now, keep a close watch to both time and price, since this zone is critical in my view.
I'll update the chart with my entry.
Good luck,
Ivan.
