Audnzdlong
AUDNZD | Bullish Structure 💡- The trade can be a slow burner, but it has the potential to continue a bullish move since it's trending towards the upside on most higher time frames.
- We are seeing a 4-hour bullish engulfing candle formation in process, suggesting bull power in the market as well as a recent MA crossover.
- If resistance will be broken, we could potentially see a push > exhaustion scenario before a continuation move up.
LONG ON AUD/NZDPrice is in a major uptrend and has broken a major resistance level and had retested that level with a double top pattern.
Once price breaks above the neckline of the double bottom it should continue rising.
Here is the play I will be taking on this pair:
P = 1.10457
SL = 1.09789 - 63 PIPS
TP = 1.11296 - 84 PIPS
AUDNZD we can see break of bullish structure. Price formed higher highs and higher lows. It then created strong bearish candle that broke trendline and also created new lower low. Soon after price failed to push through the previous high and created new lower high. Price then confirmed the reversal with break of previous lower low level.
💡Don't miss the great buy opportunity in AUDNZDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.1006).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. AUDNZD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 53.
Take Profits:
TP1= @ 1.1076
TP2= @ 1.1110
TP3= @ 1.1148
TP4= @ 1.1194
TP5= @ 1.1234
SL= Break below S2
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💡Don't miss the great buy opportunity in AUDNZDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.1006).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. AUDNZD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 51.
Take Profits:
TP1= @ 1.1076
TP2= @ 1.1110
TP3= @ 1.1148
TP4= @ 1.1194
TP5= @ 1.1234
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex / Crypto trader ?
Now, It's your turn !
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Full Analysis On AUD/NZD My Opinion For Next Movement Next DaysThis is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
AUD NZD Long buyHello Traders. price to rise a long term, not to sell i search to buy only the price broke a strong resistance that became support at the level of 1.08300 and retested the resistance to complete the rise and now wait for a slight drop to the level of 1.09030 to complete the buying
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