Audnzdforecast
AUDNZD approaching resistance, look out for potential reversal!
AUDNZD is approaching its resistance at 1.04939 where it is could reverse down to its support at 1.04577.
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AUDNZD POTENTIAL LONG AFTER PULLBACK From a daily view, this pair appears bullish. We can see price respect support and move bullish on the 4hr , at the moment price is what i would see as a pullback and there is potential for price to go long again at the marked grey line.
entry - grey line
stop loss - red line
take profit - green line
risk exposure - 1%
risk to reward 1:2
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SELL SIGNAL ON AUDNZD As you can see, AUDNZD Has shown Bearish momentum and currently price is in a small retracement as i would see it to a critical point of resistance that i have marked with the grey horizontal line. From this point, price may continue a potential bearish move to our take profit point that i have marked with the green horizontal line.
Green line- Take profit
Grey line - Entry
Red line - Stop loss
Risk exposure - 1%
Risk to reward - 1:2
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AUDNZD 170 pips short setup - 1:3 risk to rewardI'm not going to enter this trade until i see breakout of the support line. After breakout, i will wait for the pullback and will go short after i see the price-action.
This is a 1:3 risk-reward setup which means a bit risky one. I'm going to risk 2% of my account balance for this trade. There are some strong supports. I may close and re-enter but not sure yet.
Enter: 1.06785
SL: 1.07325 / 54 pips
TP1: 1.06160 / 62 pips
TP2: 1.05890 / 89 pips
TP3: 1.05095 / 169 pips
Note that this is not financial advice.
Trade safe,
Atilla