AUDNZD - too much oversold and sitting on support level.

11 Mar 2019

Good evening everyone,

As we can see AUDNZD is oversold on every timeframe and now its forming bullish rsi divergences.


If we look at weekly timeframe we see the price is now sitting at a huge support level.

The price is not only oversold but too far away from our 50 EMA weekly and daily and therefore it might pullback to them before the sell off goes on.


Now, i'd not even think entering long before a break and close above 1h 50ema.


Potencial targets are 1.04 . 1.045 and an extended target is 1.06

Any s.l has to be under our current bottom ~1.031











This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.

11 Mar 2019

Not

So far price hasnt breakup the 1h 50 ema, nothing to do so far, the selling pressure is too strong yet.

12 Mar 2019

Not

Price keep rushing downside so no long opportunity yet, its better to wait signs of exhaustion.

12 Mar 2019

Not

And short now is not a good idea since its way too overextend to overall, nothing to do on this pair for now.