Audnzdforecast
AUDNZD Added Another Layer of confirmation AUDNZD Last Week, The Daily Time Frame Closed Above The Old Down Trend Line, After Hitting The Up Channel Trend Line
Forming A Bullish Candlestick Formation on The 4 Hour Time Frame,
Now The Market Have Come Back To The Backside of The Down Trend on The 4 Hour TF And Formed Another Bullish CSF
(Bullish Engulfing Candle) With A CTL Break,
What We Have:
- Bullish CSF
- Trend Line Break
- TL Support
- Weekly Low Price
AUDNZD downside break quickly runs into a key stumbling blockThe key support level has been a level that buyers have leaned on for possible pullback.
The strong kiwi flows over the past two weeks have been in AUD/NZD as the pair slides back under 1.05 for the first time since August.
watch price action for possible pullback
Another Look At Aud/Nzd (Fibonacci at Closing Prices) When you draw the Fib Retracement from the "Last Completed Swing" at the closing prices instead of using the wicks , you can see that price never closed below the 0.5 Fib Retracement Level.
Price moved below it and kissed the 200 Day Simple Moving Average and then moved back up above the Retracement Area and closed red for the day!
This is a buy folks! We do not have evidence of the buy yet on the daily chart , and you should not enter a buy yet unless your system tells you to do that!
Please check out my last Aud/Nzd analysis in the section "Link to Related Ideas" .... Press the play button if your on the Computer (Not Mobile) To see what happened next!