Await for the break and then target this Months Pivot
AUDNZD has been overpowered by the Kiwi Dollar which has gone strengthened against many pairs in recent weeks.
Although I expect the Kiwi to gain further strength, this pair is due for a retracement and I expect a retracement towards the Monthly Pivot as a definition of fair price (to explain in future posts...)
Wait for a break above the trend line and then retrace to either bounce or enter immediately if the method suits you and aim for approx 75% towards the monthly pivot. Happy trading!
Although I expect the Kiwi to gain further strength, this pair is due for a retracement and I expect a retracement towards the Monthly Pivot as a definition of fair price (to explain in future posts...)
Wait for a break above the trend line and then retrace to either bounce or enter immediately if the method suits you and aim for approx 75% towards the monthly pivot. Happy trading!