Analysis –
Looking at AUD/NZD; we are extremely excited about the long opportunity that is developing and we expect to see a bullish move within the next week or two.
Price has broken our major ascending trend line and we are not going through our consolidation phase. A risk entry on this scenario would be at the bottom of the consolidation zone with stop loses below the lows but a safer entry would be to allow for the 'wait for break' trend line and to enter on a retest of structure.
As always, I’d love to hear your thoughts and what your outlook is. Let me know in the comments below.
Hope you have had a profitable week in the markets, and it continues through into next week.
The Fx Chartist