AUDNZD: Bullish continuation
After a Bullish move that started from mid week before, price pull back. Late Thu, we see sign of strength(candle A) which is confirm in the subsequent Bullish move. But It met some resistance @ 1.0260 level and pull back(candle B). Notice that candle B doesn't really have a very high volume. Which tells me that professional selling might not be behind this pull back. The subsequent 2 narrow candles(candle C & D) does have high volume. Is this smart money accumulating? The last H4 candle(candle E) see it coming lower with very low volume. It could be cos it's late NY trading session with low liquidity or simply just No supply coming in? If candle C & D are professional selling, why the next Bearish candle(candle E) has low volume, esp to an area of demand? If next Mon price starts to go higher from here, I think we can safely assume that Bulls is still in control and price will go higher next week. A close below candle A will negate the Bullish bias.
DISCLAIMER:
Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice.
I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
PRICE ACTION only tell half the story. The other key half is VOLUME. For VOLUME drive price.
DISCLAIMER:
Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice.
I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
PRICE ACTION only tell half the story. The other key half is VOLUME. For VOLUME drive price.
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.
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.