Aud-nzd
AUD/NZD: 5 major reasons for a sell + TechnicalsTECHNICALS:
AUD/NZD is trading at a major daily resistance level and started to form a bearish wedge pattern on the H1 chart, where a fresh lower high is already evident.
The bearish wedge formation signals weakness in the recent uptrend, with projections above previous peaks failing to move significantly to the upside.
A break below the bearish wedge provides a selling opportunity in this case.
POSITIONING:
Latest CoT report shows that both the AUD and NZD positioning is mixed, with some market participants increasing and some decreasing their bullish bets.
CORRELATIONS:
Australian and New Zealand stock market ratio is bearish for the pair. There is a huge gap to close here, which can be seen on the chart.
INTEREST RATES:
Also on the correlations chart above is the interest rate differential between 2y AU and NZ yields. Again bearish for the pair.
UPCOMING ECONOMIC REPORTS:
Wednesday - RBNZ monetary policy meeting. Given the recent strong labour market numbers coming from New Zealand, and their handling of the pandemic (no new cases), the meeting could be more hawkish (or less dovish, if you like) than expected and support the NZD.
== SUMMARY ==
My traders and I will look for selling opportunities in this pair.
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AUDNZD Long - FlashcardAUDNZD - Long
Direction: - There is Bullish Momentum and Orderflow indicating the pair will go long.
- AUDNZD went into the Bullish OB and is approaching the next level of a Bullish Cycle.
- Pair broke YL (Yesterday's Low) indicating possible entry for a buy.
Entry: - W (Double-Bottom) Pattern Formation.
- Today's low was held with pins to the bottom side, indicating low was probably not going to be broken.
- Divergence showing me pair is a buy.
- Volatility band squeeze below the 50 indicates a burst to the upside.
- MBL (Market Base Line) curving upwards below the 50, indicating pair will rise.
- RSI crosses the volatility bands (Shark-fin) indicating a rise in the pair.
- RSI near the 32, indicating pair is exhausted and near oversold.
- 13 EMA Cross indicates pair will continue rising above the 13 EMA.
Exit: - 44 pip TP @ just below YH (Yesterday's High).
- 16 pip SL @ just below today's low.
Waiting for a correction on AUDNZD by ThinkingAntsOkMain items we can see on the chart:
a) The price has reached a major Resistance Zone
b) Before that, we have observed a breakout of a clear corrective Structure
c) The Target of that breakout goes beyond the current resistance
d) However, we expect a correction on the current level before the continuation of the bullish trend
AUD/NZD STRUCTURE SHORT|
The pair is trading near the resistance of an upward channel, while also having reached a strong horizontal level.
Therefore, the expected move direction is down.
The yellow square indicates the resistance confluence zone.
Keep your sell limits in the square area, and short if the price spikes there.
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AUDNZD - SWING - 03. AUGU. 2020Welcome to our weekly trade setup ( AUDNZD )!
-
1 HOUR
Bearish price action right now..
4 HOUR
Overall bullish market formed new highs.
DAILY
Expecting prices to turn bearish now, good short entries!
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FOREX SWING
SELL AUDNZD
ENTRY LEVEL @ 1.07510
SL @ 1.07940
TP @ 1.06870
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
Following the 4hs movement on AUDNZD by ThinkingAntsOkMain items we can see on the chart
a) Last week we observed a clear minor corrective structure, and the target was the next resistance zone
b) The price moves as expected after the breakout of the minor corrective structure, and now we can observe the 2nd one
c) We will use the same logic for this structure if the price breaks it, we will aim for a bullish movement towards the previous target
d) REMEMBER: Waiting for clear corrective patterns is always the best way to trade the market; first you wait for something you feel extremely clear, and after that, you look for a breakout signal that provides you with a good risk-reward ratio towards the next support/resistance zone
AUDNZD on the way to the Target by ThinkingAntsOkMain items we can see on the chart:
a) We observed a clear minor corrective structure after the breakout of a major corrective structure
b) This structure was also supported on a clear horizontal zone (support/resistance)
c) When we find this kind of situations with coherence in multiple aspects, we can say we are in front of a high-quality setup
d) The movement is currently going as expected (from a technical perspective) and we wait for the resistance zone to be hit
AUDNZD: Key Level & How to Trade It
AUDNZD is approaching a strong daily/4h structure support.
the underlined yellow area is based on a horizontal structure and fib.confluence of multiple impulse legs.
Friday's daily candle has been rejected from it with a dodji candle.
to catch a bullish movement from this key level,
pay attention to a bullish flag formation on 4H.
let the market break above that with 4H candle close.
then buy aggressively or on a retest.
initial target will be 1.0727
stop will be below the last higher low within the flag.
in case of bearish continuation and bearish violation of the underlined structure,
setup will be invalid.
AUDNZD Trend ContinuationBeen speculating of this pair for 1-2 weeks and just last week it met our conditions of entry but so happened to show us our ideal entry at market close which is very risky especially without knowing what may happen over the weekend, that can put our trade into complete danger. It was better that we closed at entry and be patient on this one, the next entry would be with great bullish momentum breaking above the minor correction channel at trending support.
Don't miss the great buy opportunity in AUDNZDTrading suggestion:
. There is a possibility of temporary retracement to suggested support lines. if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDNZD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 47.
Take Profits:
TP1= @ 1.0721
TP2= @ 1.0748
TP3= @ 1.0813
TP4= @ 1.0867
TP5= @ 1.0890
SL= Break below S2
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Don't miss the great buy opportunity in AUDNZDTrading suggestion:
. There is a possibility of temporary retracement to suggested support lines. if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDNZD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 47.
Take Profits:
TP1= @ 1.0721
TP2= @ 1.0748
TP3= @ 1.0813
TP4= @ 1.0867
TP5= @ 1.0890
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
AUD/NZD - I've got another idea!AUD/NZD In a beautiful channel going up.
If we see the bears get in further control we could head down out of channel to 0.618 area which matches out support areas.
If the bulls stay within this channel we will see a re-test of bullish momentum areas and could go towards 161.8 high areas to the next resistance areas.
Patience is key!
Just a trade idea, not a recommendation.
Aussie Kiwi short ideaSee a bounce off a strong resistance, I’ve shorted from earlier but could be a nice short for yous to look for an entry for. stop above resistance, tp1 at first support, tp2 at second support (will close depending on how the support is treated). Happy trading! Do your own TA!
