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1 HOUR Bearish price action and pressure.
4 HOUR bearish waving market with several pullbacks and spikes.
DAILY Very bearish market strucuture found its support and need a pullback now!
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FOREX SETUP BUY AUDNZD ENTRY @ 1.04310 SL @ 1.03960 (35 Pips) TP @ 1.04900 (60 Pips) RR: 1.70 Use 1% risk per Position! (Remember to add a few pips to all levels - different Brokers!)
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My concern is the bearish break of the trend line and support @ 1.0445. A further fall and break of support @ 1.0375 would confirm continued strength of the NZD. But for how long?
If I was in your shoes I would never think about Buy. Rather, I would wait to touch that Main 1.0450 area and look for a selling opportunity.
Ozzy4xbloke
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This has been in a downward channel since April. If it continues the pattern there is a low trend line & major support cross @ 1.0375 that it may go to before heading up. Any thoughts?
DACapitalTrading
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@Ozzy4xbloke, Thanks for sharing with us, will update my new view shortly!