Wednesday, July 15, 2015

AUDNZD Sell Recommendation July 16th 2015

Currency Pair: AUDNZD
Timeframe: Hourly Chart (H4)
Recommendation: Sell AUDNZD @ 1.1290
Take Profit @ 1.1000
Stop Loss @ 1.1400


The AUDNZD has rallied after a sharp sell-off took this currency pair to a lower low. The current rally is stuck at its resistance level and should this be the end of it a lower high would be confirmed which means the next move will be to the downside and likely set a new lower low.

I expect volatile trade ahead, but will use this as a good entry opportunity for my short positions. I expect a sell-off on the back of profit taking, but I am prepared to hold this trade through the end of this year if necessary.

 PaxForex

4 comments:

The Australian dollar (AUD) held steady at six-year lows against its U.S. counterpart on Thursday.

I did, but I expect a gradual increase in price action for the rest of 2015.

Hej , are you not writing anymore articles.

where did you disappear to? We miss your trades

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