buy trade, let's see how this turns out.
 |
 |
buy trade, let's see how this turns out.
AUD/NZD @1.0670
Fundamentals have finally taken hold here.
Australian economy is in dire straits where as NZ is travelling just dandy.
Do not feel those Aussie job amounts. Its alot worse out there than what the ABS suggests with their sample .
I believe we are going to have a RETEST OF PARITY here at a certain point this year.
Naked brief AUD is pricey but having the NZD to cross against provides a positive yield.
Initial chart -- Unfortunately the bullish view on this, that functioned from 1.03 - 1.10, now appears dead as the movement was only 3 waves from 1.02x
Second chart -- Yet provided the 2015 impulse stays intact, the bullish view stays
Key point -- June 2015 - May 2017 stays a correction of the March - June 2015 urge.
Entire -- goal into the 1.03x place to find out if a base can form for a possible second section from 1.02x. Alternatively, a move beneath 1.02x, for a bigger (Z), holding the 2015 low, keeps this bullish.
To follow up the last 2 charts previously, on the 1h that there is lots of bullish divergence (highlighted). Price is looking for a low within this area
Over night the bullish play from the 1 hour bullish divergence kicked, up by 60. Search for this bullish swing to operate for a couple of days. The question is if price can find a low over 1.0326 and set a major reduced for a new leg up towards 1.14.
Went long @ 1.0429 ish yesterday (posted in eur/cad thread) took profit about a hour ago, flat, margin free, on the sideline waiting for appealing prices.
Cheers
Buy limit
over-night bounce functioned nicely in this, just have to determine if it's corrective or some major non stop today. Towards 1.06 still open this week.
[quote=SenexFX;9950754]bounce worked well in this, just have to determine if it's some or corrective major non stop . Towards 1.06 still open this week.
Yes I agree, Although I am bullish on this pair too, I can't help to think this is corrective and we might probably find a spike to this mid 1.03s before going towards 1.1
I'd really like to buy at the 1.03s
A break of this weekly trendline support at 1.03x ray will most likely open this to a new low below 1.02x.
Reply With Quote
