Weekly is bullish and Daily is bullish.
However, we are at the extreme supply level of the range going since July.
A correction deeper inside the smaller range was created recently is a perfect scenario for a continuation of the bullish trend.
EURNZD is in a range now and most probably preparing a bullish breakout as it is oversold daily and retesting a major support area. Let us wait for a trend breakout and then a restest and confirmation before buying.
Well here goes my 5 reasons why to short AUCAD:
1- Evening star pattern formed on a daily resistance
2- Rising wedge was broken
3- Fast oscillators such as CCI and Stochastic RSI are over bought and trending down
4- Divergence on CCI and Stochastic RSI
5- It is a 1 to 2 risk to reward trade
NZDUSD is now at a resistance level that is being holding since December 2019. This level was tested 5 times. In addition, a clear RSI divergence is shown at daily and 4 hours. It is a good risk to reward trade. 1H is forming a Head and Shoulders pattern.
