Monday, May 11, 2015

AUDNZD Sell Recommendation May 11th 2015

Currency Pair: AUDNZD
Timeframe: Hourly Chart (H4)
Recommendation: Sell AUDNZD @ 1.0700
Take Profit @ 1.0100
Stop Loss @ 1.1000

The rally in the AUDNZD was not only expected, but very profitable on top of that and anyone who followed my AUDNZD Buy Recommendation from April 21st 2015 made at least 250 pips unless you adjusted your stop loss orders accordingly. I closed this trade for a profit of 600 pips and think it is time to look the other way.

I think we can see a nice reversal in this currency pair and am at least targeting 200 pips before I will take another look. The downside potential is 600 pips if the rally will see a full reversal, but several factors would need to come together for that one.



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