AUDNZD - BUY - 28th June 2021




AUDNZD - BUY - 28th June 2021 (Closed)


Updated Position: 28th June 2021 

Falling wedge breakout on a key support zone. The previous analysis is still valid and we are now entering at a lower area.

We have closed the previous BUY STOP and are entering a BUY Market Execution.

 

 

Trade Setup: BUY market execution, current price 1.0746, stop loss 1.0656 and take profit 1.0946.

Stop loss: 90 pips

Take profit: 200 pips

 

24th June 2021

Good morning team,

 

The AUD has had a nice move over the past couple of days and we are now turning our attention to the AUDNZD due to a number of technicals.

AUDNZD – Elliott Wave Analysis

The AUDNZD appears to be in a corrective structure as the price action is very messy and overlapping in nature. Whereas the structure before appears to be impulsive and has a nice 5 wave appearance. This suggests the pair should be turning higher once the correction is complete. The 61% FIB retracement is providing support at 1.0730, ideally the AUDNZD would bounce from this zone.

AUDNZD 4 Hour Charts

There is a possible inverted head and shoulders formation in play (bullish structure).

 

Trade Setup: BUY STOP 1.0790, stop loss 1.0710 and take profit target 1.0950. 

Stop loss: 80 pips

Take profit: 160 pips

Trade Setup
BUY Market Excution

Entry
1.0746

Take Profit
1.0946

Stop Loss
1.0656