Audnzdforecast
AUDNZD BUY OPPORTUNITY !!!! AUD NZD IS ABOUT TO PRESENT US WITH A LONG OPPORTUNITY!
Making the description simple - we have our daily resistance at 1.05355 that have rejected around 5 times from that zone. With that been said, a clean break of 1.05355 and retest would present us with a long opportunity!
Please, be patience and see the resistance turning support in order to place a long position!
Target 1.06215
All the best
Trading protection!!!
AUDNZD Broke key support. Downtrend in motionAUDNZD broke a key support level AND a key resistance level. Looks to be continuing the downtrend. The pair is up on the day. Waiting until the pair hits the previous resistance level to determine if it will be rejected or break through. If rejected, SL will be above resistance and slightly above trend line, and a move to the support level will be in play...
-StampsFX
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AUDNZD multiple trading opportunities with great reward.AUDNZD broke ascending trendline support and bounced off of what it looks like descending channel (pink lines) which means that there is very good chance that the price will try to reach the top of the descending channel. If this is the case then we have multiple opportunities to get involved in the bull run. The more conservative approach would be idea A) if the price comes back to test the low of the channel or B) if the price breaks the ascending trendline (purple line) and bounce off of it. In the short term we could trade short pullback to the descending channel following the A idea.
AUDNZD Elliott Wave View: Further Downside ExpectedHello Traders,
AUDNZD Short-term Elliott Wave view suggests that the rally to 1.1066 ended red wave X. The internal subdivision of red wave X is unfolding as a zigzag Elliott Wave structure where black wave ((a)) ended at 1.1048, black wave ((b)) ended at 1.0992, and black wave ((c)) of X ended at 1.1066. A zigzag is a 5-3-5 ((a))-((b))-((c)) structure in which the subdivision of wave ((a)) and ((c)) is in 5 waves, either as impulse or diagonal.
Down from 1.1066, red wave Y is in progress as a double three Elliott Wave structure where black wave ((w)) ended at 1.0945 and black wave ((x)) ended at 1.0986. Below there, it soon can end a 5 waves structure in blue wave (a). Afterwards, a correction in blue wave (b) in 3-7- or 11 swings is expected. As long as the pullbacks stay below 1.09875 it is expected to see more downside. We don’t like buying the proposed rally and prefer more downside in 3-7-11 swing as far as pivot at 1.09875 high stays intact.