AUD/NZD - Diamond Bottom Forming
Chart: Weekly Time Frame
Market: Ranging / Consolidating
Long term, I am bullish on this pair due to the Diamond bottom chart pattern forming on the weekly chart.
Will look out for bullish evidence around the double bottom (weekly chart) formed on the 11th of July 2016 or a bounce off the weekly trend line acting as support.
Bullish Indicators
1. Diamond bottom chart pattern forming
2. Price is trading close to 2005 & 2015 Lows - between 1.04200 - 1.00400
3. Higher lows (red circles)
Agree / Disagree? Comment below, let me know.
Market: Ranging / Consolidating
Long term, I am bullish on this pair due to the Diamond bottom chart pattern forming on the weekly chart.
Will look out for bullish evidence around the double bottom (weekly chart) formed on the 11th of July 2016 or a bounce off the weekly trend line acting as support.
Bullish Indicators
1. Diamond bottom chart pattern forming
2. Price is trading close to 2005 & 2015 Lows - between 1.04200 - 1.00400
3. Higher lows (red circles)
Agree / Disagree? Comment below, let me know.
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