AUDNZD Long
The trend with this pair is down, with price travelling with a channel beneath the 200MAV.
The Range for the year so far is between 1.07 and 1.02.
Last Wednesday a large bullish candle was formed, that was the most significant since Jan 2019. This degree of movement will be instigated by the institutional buyers and not the retail crowd.
Maybe the real buyers have turned up and price makes a move towards the 1.07 handle.
If so
Enter - in the zone defined by the 20 and 50 MAV , as a retest of the channel trendline
Stop - beneath the 50 MAV
Target - 1.07
RR = 5
The Range for the year so far is between 1.07 and 1.02.
Last Wednesday a large bullish candle was formed, that was the most significant since Jan 2019. This degree of movement will be instigated by the institutional buyers and not the retail crowd.
Maybe the real buyers have turned up and price makes a move towards the 1.07 handle.
If so
Enter - in the zone defined by the 20 and 50 MAV , as a retest of the channel trendline
Stop - beneath the 50 MAV
Target - 1.07
RR = 5
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