AUD/NZD's Multi-Year Cycle in Full Swing [Time For the Bulls]Another super awesome 'trade of the ages' on this SVP {Super Valuable Pair}! Another Super Valuable Pair similar to this one with identical price behavior is the FX:AUDCAD .
Remember the NZD/CAD trades opposite to this one due to the negative correlation.
I've been waiting forever for this Inverse Head & Shoulders to complete and lift-off and the party has now truly begun. Target's #1 and #2 have already been hit and the neckline hasn't even broke yet. My 3rd Target is the neckline itself then we really look forward to pyramiding those Buy positions aggressively. This sexy beast is just getting started just like almost all the other pairs with huge Daily and Weekly Head & Shoulder's formations like the Yen pairs just to name a few because they are literally popping up everywhere. I think Year 2016-2017 will be remembered as the year of the Head & Shoulders :)
The AUD/NZD and GBP/NZD have a high level of positive correlation with each other so I really expect both pairs to push tremendously higher. The only upcoming event that may potentially hurt any British Pound momentum is the "Brexit" decision which is on June 23rd, 2016 so we'll see but until then I'm bullish FX:AUDCAD , FX:AUDNZD and FX:GBPNZD . However, I'm bearish FX:NZDCAD , FX:EURNZD and FX:NZDJPY which I will talk more about at a later time.
Good luck traders, and may all your trades be profitable!
Aussiekiwi
Why AUDNZD Could Surge 400 Pips From HereAUDNZD – Aussie/Kiwi could continue to push higher
The AUDNZD has shown strength recently as we can see in the charts below. You will notice first on the monthly chart that an inside pin bar buy signal has formed from 1.0500 support following several months of consolidation. If bulls remain in control, we could see price continue to break higher from this setup and test 1.1085 resistance and potentially move up to 1.1200 – 1.1300 key resistance zone.
AUDNZD LONG-TERM SHORT SELLThis is a good opportunity to earn a good return.
The strong rally from 1.07 was due to the RBNZ Interest rate news.
The negative news had a bullish effect on this pair, causing a 300+ pip rally.
This rally is into an area where willing sellers overwhelmed demand.
Chances are, another fall is likely here.
The strong move up means there is no willing demand above 1.07.
This is good. It means that this should work to 5:1 return easily.
EP: ~1.11110
SL: ~1.11810
TP: >1.07610 (at least 5:1, 350 pips)