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Newzealanddollar

AUDNZD Long-term sell opportunityThe AUDNZD pair broke above its August 2020 Lower Highs trend-line in late March and is now approaching the 1.104500 Resistance. This is similar to the late October 2017 break-out above the Lower Highs. In fact the two phases seem identical on a wider 3 year scale. The 2017 fractal reversed soon after it broke above the Lower Highs and initially reached as low as the 0.618 Fibonacci retracement level. That is currently just below the 1.04000 level, and is our long-term target on the AUDNZD pair. Notice that the RSI on the 1W time-frame is at the highest level since July 2008 of the subprime mortgage crisis. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Short
by TradingShot
1
NZDUSD Strong sell signalThe NZDUSD pair has been trading within a long-term Channel Down since the start of 2021. Our last call on this pair was a buy signal and our 0.7000 target has been hit: The price broke below the Lower Lows trend-line, creating a small divergence and we have to re-adjust our projected Fibs. As you see, every Lower High has been near the 0.786 Fibonacci retracement level, which was also the case for the last Lower High of April 05. The recent Lower Low however broke the -0.236 Fib extension sequence as the price marginally broke below the Channel Down. Regardless of that, the price is still a solid sell signal at the beginning of a new selling sequence. The 1D MA50 (blue trend-line) broke today, giving the final confirmation for a bearish break-out. Our target is the 0.6530 Low. Traders seeking more risk on the long-term may even target the previous -0.236 Fib extension sequence at 0.63670. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Short
by TradingShot