Good afternoon team,
I am preparing a number of positions for this evening. We will look to hold these positions over the weekend.
Firstly, we are taking a look at the AUDNZD. From a technical perspective, this position ticks the boxes.
Falling wedge breakout which is a bullish structure. There is potentially an inverted head and shoulders formation at the 38% FIB retracement zone. Target levels can be found at the 1.0880 and 1.0920 areas.
Trade Setup: BUY LIMIT – Entry Price 1.0770, stop loss 1.0695 and take profit 1.0927.
Stop loss: 75 pips
Take profit: 157 pips