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
Why Consumer Confidence Matters in Forex Trading When analyzing the Forex market, traders often pay…
When traders study the Forex market, they often focus on economic indicators such as inflation,…
The markets are showing some fascinating technical developments this week, and there are several opportunities…
When Being Right Becomes More Important Than Making Money Every Forex trader wants to make…
Why Doesn't a Strong Economy Always Have a Strong Currency? Imagine that a country reports…
Have you ever opened your trading platform, watched the market move, and felt that you…
