AUD/NZD 1:4.5 (I'm looking for the SELL)Possible short trade setup being formed. This analysis is based on trend lines , price action, support/resistance zones and sentimental information.
It is a high probable trade with a relatively small risk to high reward ratio.
I'm really looking for the SELL.
Enjoy!!!!!
Aud_nzd
Threshold Levels In Price AUD/NZD When Price Reaches A Threshold Level Predicted By Our AI The Market Shows A Strong Response By Moving The Price In One Direction.We Are Currently Testing Our System But Here Is A Trade That Has A High Percentage Of Completion.To Follow This System We Need A 0 Spread Account As We Need Both The Orders To Execute At The Same Time (Hedging) .It Is A Trend Following System So As Soon As The Market Reaches The Take Profit Modify Your Position And Place A Trailing Stop Loss From The Respective Levels.At Times We Need To Modify The Levels As Price Shows Unusual Patterns So I Will Update This View If Necessary
wait for the aud/nzd consolidation to breakCurrent situation:
- Price is at the bottom of a range on the daily chart
- Price is consolidating on the four-hour chart
Looking ahead:
- Waiting for the price to break on the four-hour chart with a close above 1.0550 to enter long.
- A break and close below 1.04 would mean a failure of the longer term range to hold and continuation of the current downward selling pattern.
Notes:
- On July 4th the RBA will make its cash rate announcement. Price may not alter consolidation until ten.
Short AUD/NZDThis trade is going to be data dependant on the RBNZ tonight. Allthough we are not expecting them to cut or raise rates it will be important to hear their tone in the statement if they make one. Last time they where less dovish than the market expected but we have had poor CPI and GDP since which has caused the rally on this pair. I will look for reversal signs at or around this price using the candlestick patterns then take an entry if I get that confirmation.
Bottom picking the AUDNZD crossA lot of traders have taken interest in the AUDNZD cross since 2014 as prices have reached a level around 1.04/05 that's held firm since 1979. While we may see another bounce off 1.035 in the coming days, recent price action suggests a risk of diving further towards multi-year lows before a true bottom can take shape. Looking at a monthly chart over the past 16 years, I've noticed a trendline that comes in at around the 1.005 level. I'd suspect that if prices fall further, we'll see some kind of initial reaction to the upside when the Aussie dollar nears parity with the Kiwi dollar. Be mindful that the end of the bearish cycle may be close, but it seems to me too soon to call.