AN SELL 18nov to 22nov 2019
PROPOSITION to SHORT AN
Technical Analysis
1.Possible Fake Out setup on the m15.Entry 1 and 2 is for tackling the fake out setup
2.Entry 3 and 4 are made on fibo retracement level of 50-61.8.historically level 50 and 61.8 area are flip area/confluence level
3.on the D1 TF bearish momentum are dominant and last week the candle ends with an inside candle.I remain bearish on AN in regards with the fundamental basis.
Fundamental Analysis
1.RBNZ holds their rate with a little slight hawkish stance thus explaining the bearish momentum last week
2.Aussie data proof to be dissapointing especially on the labor.it took nearly a year for aussie to get the 5.2% unemployment and it all crumbles down when last weeks data came out to be 5.3%.
3.Kiwi manufacuring index rises into expansion after 4 month in contraction.
Risk
1.We should keep an eye to next week PPI data.if data is good,I expect only entry 1 and 2 will be trigger otherwise price might rise until entry 3 and 4.
2.A positive headline in the us-china trade war might give a boost to aussie dollar.so watch out for any headline
3.Any positive comment in RBA minute meeting might send AN flying testing 1.08 area or more depending on the comments
Technical Analysis
1.Possible Fake Out setup on the m15.Entry 1 and 2 is for tackling the fake out setup
2.Entry 3 and 4 are made on fibo retracement level of 50-61.8.historically level 50 and 61.8 area are flip area/confluence level
3.on the D1 TF bearish momentum are dominant and last week the candle ends with an inside candle.I remain bearish on AN in regards with the fundamental basis.
Fundamental Analysis
1.RBNZ holds their rate with a little slight hawkish stance thus explaining the bearish momentum last week
2.Aussie data proof to be dissapointing especially on the labor.it took nearly a year for aussie to get the 5.2% unemployment and it all crumbles down when last weeks data came out to be 5.3%.
3.Kiwi manufacuring index rises into expansion after 4 month in contraction.
Risk
1.We should keep an eye to next week PPI data.if data is good,I expect only entry 1 and 2 will be trigger otherwise price might rise until entry 3 and 4.
2.A positive headline in the us-china trade war might give a boost to aussie dollar.so watch out for any headline
3.Any positive comment in RBA minute meeting might send AN flying testing 1.08 area or more depending on the comments
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