AUDNZD Beginning of an impulse or further consolidation?
The aussie currency should have a slight edge over the New Zealand dollar, in the medium-long term, therefore the
AUDNZD
should be ready for an upward impulse. Again, it is not a matter of if, but a matter of when. It's either going to go now, or look for a further slow downward consolidation towards the 0.786 Fib and then proceed towards the 1.95 - 2.1 area.
AUDNZD
should be ready for an upward impulse. Again, it is not a matter of if, but a matter of when. It's either going to go now, or look for a further slow downward consolidation towards the 0.786 Fib and then proceed towards the 1.95 - 2.1 area.
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Bullish H&S in formation on the 4hr timeframe. Not a good R/R ratio, given these stop loss and target, but if it breaks the upper daily trend line, the targets are much higher, making it a worthwhile trade. Suggested strategy: enter at market with stop just below head and if the price moves in the correct direction, move stop to break even.
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ERRATA CORRIGE: There was a mistake in the original post. I meant " then proceed towards the 1.095 area" (not 1.95).