Good evening guys!
Great result today from the trading floor trades and also the setups posted in telegram.
Make sure your notifications are switched on for telegram!
It appears as though risk is returning to the market, JPY and USD are in high demand today and we are expecting the same theme to continue in tonights US session.
Commodity related currencies could suffer, this means a weaker AUD and NZD.
Our previous trade on the AUDNZD hit our stop loss of 73 pips, we may have been too early on the trade.
With tomorrows unemployment figures due out from Australia and then Chinas GDP on Friday we may now see the AUDNZD decline.
Forecasts are negative for both announcements over the next two days.
AUDNZD – Technical Analysis
Trade Setup: SELL market order, current price 1.0530, stop loss 1.0620 and take profit 1.0330
Stop loss: 90 PIPs
Take Profit: 200 PIPS
For educational purposes, the AUDNZD has also created an extended fifth wave using Elliott waves theory, check out below!
This exact pattern can be found in the AUDNZD.