WE COULD HAVE A SELL ON AUD/NZD!!Price failed to respect the 4hr trendline after hitter a major resistance level at 1.10000. Price is continuing downward in the counter-trendline. We see that price broke the 1.08250 level and is now in the process of retesting it. We are waiting for a pattern or candlestick formation to form to place our trade. Tp set at 1.07500 because there are a lot of buy orders sitting within that zone due to a 50% Fibonacci line-up.
Audnzdlong
Long Position: Australian Dollar is go up in the demand zone!!!In this analysis that was pending, we see a strenghten of Australian Dollar/ New Zealand Dollar.
In Daily timeframe we see a clear bulls are go back to the demand zone and this is so positie for bulls, becuase bulls are trying with success that bears don't slump the price. The trend is clear bullish!!!
In the H4 timeframe, in the Sunday's yesterday when Forex was open up, there would been a manipulation of the market, and then, this analsyis enfocous in the H4 timeframe show how the short position will been liquidated yesterday if you put any short position, because I was said you in the past week that we need to hope a confirmation, it's very natural to seeing a manipulation of the market, but for that we need to mark my own strategy based of supply/demand.
I put a buy order limit at $1.0826 with a SL at 35 pips and my take profti it's 180 pips, we could see a huge potential of this par within on this week.
For tomorrow, we have the meeting of the Bank of New Zealand about the interes rate, and today we have the Rate Statement of the New Zealand's Central Bank. I dont have a much data of New Zealand's news, because this par is so move for supply and demand, and do you know, this par there's not present specualte news on Forex, becuase Australain Dollar, New Zealand Dollar, Canadian Dollar and Swiss Franc, these currencies don't represent speculate news as US Dollar, Euro or Sterling Pound, these major currencies on the world it's moved with a lot fundamentals and sometimes based in technical analysis.
Price just rejected the POC heavilly, looking for buysThe red line is the Point of Control of the Volume Profile, witch means where market participants have been the most active in the market (most volume). It is considered as strong support in an uptrend.
Here Price just rejected this key level with a strong engulfing candle, indicating that the price will be continuing upwards.
I am looking for a good entry to target the highs.
3.2 RR
simple
AUD/NZD - Ichimoku Long TradeThis pair found some support and had a bullish kumo breakout towards the end of last week.
This pair tends to be one that trends pretty well.
I'm looking for a breakout above recent price structure highs to enter my long position.
I've drawn out a few partial take profit to aim along the way to my overall target at price structure highs.
If we fail to breakout and above previous price, or if our trend confirmations change, this setup may become invalidated.
AUDNZD - Daily ResistancePrice has pulled back significantly into the previous daily resistance zone, It is likely to see rejections from this region, if we don't see any signs of rejection and the price manages to break below the key level marked we can look for potential selling opportunities from the re-test of structure.
According to COT data source - 57% short