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Audnzdanalysis

AUDNZD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of AUDNZD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 45 - Nov 02 M > Price is respecting downward trend-line as resistance. It faced rejection at resistance level and completed W formation, it continued to drop to test monthly support. W > After dropping to complete W formation price pulled up till 0.786 Fib level on bearish impulse and continued to drop till -0.618 Fib level on last bullish impulse. We can now expect a pull up for correction, we see an M formation and its neck is in between 0.382 and 0.5 Fib level on bearish impulse. D > We can see two odd candles in bearish impulse, which will now act as supply zone.We can see another M formation in D chart. Bearish move has already lost its momentum and we can expect a reversal soon. As per COT AUD saw closure of both Long and Short, improving net positions. AXY gained some lost position during the said week but dropped to test support level again last week. Any break further to the downside will be interesting opportunity to watch for. NZD saw addition of both Long and Short improving net positions to max for the year, whereas ZXY gained strength during the said week but it weakened last week. ZXY has been gaining strength slowly since June 2020 hence we can expect stronger NZD this week. Weak AUD and strong NZD can push price toward consolidation. 4H > We can see bullish divergence. Price has been consolidating at current support level for past few days and this situation an continue before price pushes for an upward move. Pair Correlation > AUDNZD has positive correlation with AUDJPY. Thank You AP17FX
Long
by AP17FX
AUDNZD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of AUDNZD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 41 - 05 Oct M > Price faced rejection at monthly resistance level and dropped to complete W formation. Price should move upward now. W > Price dropped beyond neck of W formation with and next week showed reversal with bullish candle. D > We can see formation of inverse H & S and expect price to rise after we see completion of neck. As per COT AUD saw closure of major Long and addition of few Short positions, reducing net positions, N-R saw closure of both Long and Short positions and Commercials saw addition of Long and closure of Short. AXY was weak for the said week however it improved its position last week. NZD saw addition of few Long and more Short reducing net positions, confirming weakness of NZD for the said week. ZXY fell improved its position last week. 4H > We can see price making LL, if price makes a LH we will get bullish confirmation. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions. Thank You AP17FX
Long
by AP17FX
AUDNZD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of AUDNZD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 42 - 12 Oct M > Price faced rejection at monthly resistance level and dropped to complete W formation. Price is respecting downward trend-line as resistance. W > Price dropped beyond neck of W formation and started an upward move after facing rejection from weekly supply zone. D > We saw formation of inverse H & S and as expected price broke daily support now turned resistance to move upside to complete our target. Price has now returned back to test daily support. Price can face rejection to move upside towards our next target. As per COT AUD saw addition of major Long and Short positions, increasing net positions. AXY gained strength during the said week, it improved its position last week. NZD had closure of few Long and major Short increasing net positions, confirming strength of ZXY for the said week. Short positions have reduced to least in current year. ZXY has been gaining strength slowly since June 2020. ZXY improved its position last week. 4H > Price is facing rejection at support level and we can see two bearish candles with rejection bottom wick. Current candle should close with bottom rejection with in about an hour. We will monitor price action for reversal confirmation to the upside. Pair Correlation > AUDNZD has positive correlation with AUDCAD and negative correlation with GBPAUD on weekly timeframe. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Long
by AP17FX
AUDNZD SWING SHORT [MULTIPLE TIME-FRAME] (HEADS UP!!!)HEADS UP ON AUDNZD... READ FULL CONFLUENCE 👇 HIT THE LIKE BUTTON BUTTON IF THIS WAS USEFUL TO YOU.. I EXPECT A BULLISH MOVE FIRST BEFORE THE OVERALL BEARISH MOVEMENT. ** REASONS ARE, THE MARKET HAS BROKEN A STRONG TRENDLINE, SHIFTING FROM AN OVERALL BUYING MARKET TO A SELLING ONE. ** WE CAN CLEARLY SEE FROM A WEEKLY PERSPECTIVE THAT THE MARKET IS STUCK IN A RANGE ** IF IT GOES UP TO MY 78.6 FIB LEVEL TO RETEST THE SUPPLY ZONE, IT'LL BE CREATING WHAT SEEMS TO BE A DOUBLE TOP FORMATION, GIVING ME AN EXTRA CONFLUENCE FOR A BEARISH MOVE ** AS A SWING TRADER, I ALWAYS ADVICE MY STUDENTS TO USE PROPER RISK MANAGEMENT, TO WITHSTAND MARKET DRAWDOWNS, GOODLUCK.
Short
by jasonscott96752