AUDNZD: an UPCOMING market REVERSAL
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🟢Forex Pair:
AUD/NZD
⚪Technical Analysis:
In the weekly time frame, since March 2020, the price has been following an uptrend, bouncing for the first time on its dynamic support in November 2020.
It's currently in a bullish trend and reached an important support zone.
In the daily time frame, the price is still moving in a clear uptrend since it got a strong impulse on the main trendline.
In the h4 time frame, the price is moving with a strong uptrend, breaking through a daily resistance zone at about 1.07279 and it's currently trying to reach the next main resistance at about 1.08500
🔴Conclusion:
I think this pair is going to get an upcoming interesting situation, less than 40 pips to reach an important resistance zone and a high possibility to see a market reversal.
I'm confident to see the price collapsing as soon as it will reach the resistance zone, planning my short trade once I'll get a proper rejection.
My target would be the support zone at about 1.07276, matching with the .50% of Fibonacci retracement.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
AUD/NZD
⚪Technical Analysis:
In the weekly time frame, since March 2020, the price has been following an uptrend, bouncing for the first time on its dynamic support in November 2020.
It's currently in a bullish trend and reached an important support zone.
In the daily time frame, the price is still moving in a clear uptrend since it got a strong impulse on the main trendline.
In the h4 time frame, the price is moving with a strong uptrend, breaking through a daily resistance zone at about 1.07279 and it's currently trying to reach the next main resistance at about 1.08500
🔴Conclusion:
I think this pair is going to get an upcoming interesting situation, less than 40 pips to reach an important resistance zone and a high possibility to see a market reversal.
I'm confident to see the price collapsing as soon as it will reach the resistance zone, planning my short trade once I'll get a proper rejection.
My target would be the support zone at about 1.07276, matching with the .50% of Fibonacci retracement.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
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