AUDNZD Short Trade Idea
Updated
Aussie / Kiwi
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Currently is sitting at Weekly Supply Zone, this pair received a push to the upside due to Rate Decision news by NZD last week.
However, since AUD and NZD react almost always the same to news, we expect heavy bearish pressure tomorrow from AUD interest rate decision.
But we know already from supply and demand analysis, we see that being in weekly supply zone, we expect sellers to be coming into the market.
In addition, this area has seen bearish rejection in past few weeks.
Sell @ Market Execution
SL ~50 pips
TP ~250 pips.
One important thing to note:
After this bearish move, price is almost near where the "Flash crash" had happened at the start of the year and so the bearish correction would now be complete and I suspect there will be bullish momentum from henceforth earlier this year
-------------------------------------------------------------------------------------------------------------------
Currently is sitting at Weekly Supply Zone, this pair received a push to the upside due to Rate Decision news by NZD last week.
However, since AUD and NZD react almost always the same to news, we expect heavy bearish pressure tomorrow from AUD interest rate decision.
But we know already from supply and demand analysis, we see that being in weekly supply zone, we expect sellers to be coming into the market.
In addition, this area has seen bearish rejection in past few weeks.
Sell @ Market Execution
SL ~50 pips
TP ~250 pips.
One important thing to note:
After this bearish move, price is almost near where the "Flash crash" had happened at the start of the year and so the bearish correction would now be complete and I suspect there will be bullish momentum from henceforth earlier this year
Note
So the trade has not moved much, and we are still waiting on that drop.Be patient, this is a very slow moving pair.
Til next time!
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