Categories: Forex Education

AUDNZD Remains a Buy Until Above 1.0950

The Aussie Dollar managed to climb higher recently not only against the US Dollar, but also against the New Zealand Dollar. There was a bearish trend line formed on the 4-hours chart of the AUDNZD pair, which was cleared to open the doors for more gains in the near term. So, I think it is a nice signal for us to look for a buy opportunity moving ahead.

When we look at the hourly chart, then there is a nice buy zone developing where there might be a lot of buying interest in the short term.

Technical Analysis

H4– Trend Line break signaling buyers stepping in.

Entry:

H1– We can enter a buy trade if the pair corrects lower in two waves and trades close to the highlighted support area at 1.0980-60.
Target 1: 1.0990
Target 2: 1.1050
Stop Loss: A close below 1.0950

Video Explanation:

Yours,
Vlad

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.