I am a bear on AUDNZD. Take a look at my trade plan for opportunities to sell.
Price opened at MPP where bulls have been buying with MR2 as monthly target. It has currently surpassed its monthly target and is sitting under an important resistance level MR3, where price has several times made a reversal and bears have entered the market. The 21 is above the 55, indicating a bullish trend and the 5 is above the 8. Resistance identified at 1.07500 mid psych level. Support at 1.07000 psych level and MR2. The stochastic is overbought. I will wait for price to reach MR3 before shorting the pair with MPP as target.
Price opened at WPP and has already met its weekly target (WR2) where it has been consolidating. . The 21 is above the 55, and the 5/8 are both flat. Resistance identified at WR2 and support at 21EMA and WR1. WPP coincides with MR2. MR3 is above WR2. Stochastic is pointing down.
Price opened at DPP and has not yet reached its daily target (DR2). MR3 is just above DR2. The 21 is above the 55 and 5 above the 8. Resistance at DR1 and DM4 and support at DM3 and DPP. Stochastic is pointing up. I will wait for price to reach its daily target/MR3 and look at lower time for price reversal pattern before selling the pair.