AUDNZD loves downward channelAUDNZD-H1
Key points
⚡️ After the impulse moves from 1.05500 level it has reached around 1.1000 level which is a key psychological level and started falling
⚡️We can clearly see the LL LH LL patterns and trading in a downward channel
⚡️The first major rejection comes around 23.6% Fibo at this level we have selled before but unfortunately it's retraced back towards entry point and felled almost +70 pips from 1.09300 level
⚡️Currently the price felled below the 50% fibo and will continue to fell towards 1.06000 level
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Audnzdsetup
AUDNZD | PERSPECTIVE FOR THE NEW WEEKAUD/NZD is aiming higher within the broad range despite the announcement from Reserve Bank of New Zealand's governor Orr at the beginning of the month (September 2020) that the central bank is ready to deliver more stimulus. Presently, the pair is trading above the Breakout of the Bearish Trendline hereby closing the last week above the Demand zone @ 1.09200
Tendency: Uptrend ( Bullish )
Structure: Trendline | Supply & Demand | Breakout
Observation: i. The line drawn under pivot lows on the Daily chart emphasizes the prevailing direction of price as price comes back to touch Trendline once again!
ii. Breakout of Rejection Trendline is another confirmation that points at an Uptrend bias.
Trading plan: BUY confirmation with a minimum potential profit of 300 pips.
Risk/Reward: 1:3
Potential Duration: 8 to 15 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
AUD/NZD - ForecastAs you can see AUD/NZD has shown bearish movement after hitting the key resistance level at around 1.1042
Now it has retraced a little after reaching the KEY SUPPORT Level at around 1.0840
Now we need to see if it will reverse back to the same RESISTANCE Level at around 1.1042 or continue down to next major support level at around 1.0660.
If it comes back to the 1.0840 level and breaks it then SELL is confirmed.
A Like would be appreciated.
AUDNZD shortMonthly
1 touch 2 touch makes a trend line
3rd touch usually completes the trend
Weekly
1 touch 2 touch makes a trend line.
3rd touch to complete the trend.
1. Market has reached psychological level
between 1.09100 and 1.10000.
2. Looking for 1 more weekly rejection candle to
support bearish momentum to the down side.
3. Looking for confirmation in the lower time
frame to take a sell.
4H
1. Waiting for price to retest 1.09500 or break up
and even get to 1.09600 and create a zone to
break out off heading down
2. If price respects 1.09500 and rejections candles
are created will be looking to take a sell down
to 1.08200
AUD/NZD BUY SIGNAL Hey tradomaniacs,
welcome to a new free trading-setup.
Notice: This is meant to be a preparation for you! As always we will have to wait for a confirmation!
AUD/NZD: Daytrade-preparation
Market-Buy-Order: 1,09580
Stop-Loss: 1,09260
Target 1: 1,09875
Target 2: 1,10010
Target 3: 1,10190
Stop-Loss: 32 pips
Risk: 0,5 % - 1%
Risk-Reward:2,0
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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AUDNZD - SELLThis pair is a bit of a mess.. we can see that price broke support and was pushed back up a little by the buyers.. the sellers forced price to break support so its safe to say we are setting up for a sell
I am waiting for confirmation before jumping in as price could float about before dropping
AUDNZD - SELL
SL - 1.07165
TP - 1.04209
AUDNZD, SELL on Daily- 1.0885-1.0850 is a strong resistance zone. price already showed rejection from the resistance zone. "Bearish pinbar" on weekly chart is our confirmation for sell.
- If it breaks below 1.0645 level which is recent support then, our sell target would be 1.0350
- Price may again retest the resistance before falling.
AUDNZD short term bearish;can retest 1.0540 level AUDNZD has reached to the top of the channel and needs a retest of 1.0540
I am short term bearish as it is under negative divergence with a bounce lower from the critical resistance.
The first level to the downside is 1.06650 followed by 1.0540
Please note that it is a short term bearish idea which will be invalidated if the price breaks above the resistance at the top of the channel
around 1.0880 - 1.0900