Swing Breakout on AUDNZD

17 nov 2023

AUD against NZD was supportet by the rising Trendline in Oktober and broke the upper boundary of the global triangle. There is was facing selling pressure and have been corrected to the 0,5er fib level. Today we saw a bug bullish movement and it seems that the weekly candle will close as a bullish engulfing candle.

The movement startet at the high volume support at 1,08 is currently testing the resistance of the upper consolidation range again. Above this resistance there will be a big bullish potential.

Important resistance zones: 1,089 and 1,102

Swing target: 1,220

If this breakout happens there will be several trading opportunities, I'll keep you updated.

20 nov 2023

Nota

Nothing happend today, but AUD was really strong against nearly all other currency pairs and we could see some range breakouts. Maybe this one will follow soon.

21 nov 2023

Nota

This one is really caught in the range. If you believe in bullish price development you have two options.
1. wait for range breakout
2. buy the upper boundary of the range (yellow area)

29 nov 2023

Operación activa

Reached the yellow support zone. Buying here with a small position size.

8 dic 2023

Nota

This is not moving very well as both NZD and AUD are in a strong cycle. From a technical point of view, just follow the triangle I drew at the chart. If there will a breakout (finally) you can open a position.

14 dic 2023

Nota

It's growing again, if you bought from the volume support (yellow zone), you already have a nice profit.

29 dic 2023

Nota

This one is quiet boring, but the analysis so far is still valid. If you like you can hold the trade, but don't expect it to explode soon.

22 ene

Nota

Finally we have some nice movements, let's see if we get a confirmation soon.

9 feb

Nota

Invalidation of the pattern, closing the idea.