when paired, aud seems to get rekt by nzd when the US stock market crashes. since its already on a downtrend it offers some insurance. the us market is getting ready to pop (at least in my opinion) so this seems like the best place to put your money. This is not financial advice, I am 21 and probably drunk.
i believe that if price goes above resistance it will go bullish and if it goes below support it will go bearish obviously. as you can see in this case it is very close to both.
what to do in this scenario? wait it out.
i would say the chances off the price going bearish are much higher than bullish but its too early to know for sure so keep an eye out
good...
Wait for price to break out of the blue cloud and we should be headed on a massive down trend.
let me know what you think, I appreciate all opinions.
good luck.
I expect it to bounce off of the support line and then turn bullish. If it breaks past the support line you can expect for price to drop to the bottom of the red cloud. As soon as price shows signs of bouncing back from support levels be sure to close the trade ASAP for best chance at max profit.
