Forex Analysis Report 12-17-18…What’s Next For The AUD/NZD???

Forex Analysis Report 12-17-18…What’s Next For The AUD/NZD???
December 17 14:01 2018

One month ago, I posted that there was more downside risks for the AUD/NZD,

Forex Analysis Report 11-13-18…More Downside Risks On AUD/NZD Says Nordea Markets

Daily Chart (Entry Time Frame) – however, the daily chart shows less than 100 pips between price and the nearest daily demand zone.

4 Hr Chart (Refined Entry Time Frame) – the chart suggest to short price if price pulls back to the 1.0720 level, 1st target is the daily demand level at 1.0671.

Price went down to the first daily demand at 1.0620 (NOT 1.0671…THAT WAS AN ERROR), bounced off the 4 hr supply zone at 1.0720 and eventually breached both daily demand zones.  

NOW WHAT???  Well, price bounced off the weekly demand at 1.0435 and is now forming a smiley face, but pulled back from the 4 hr supply zone at 1.05960.

 However, the chart suggest if price can take out the immediate 4 hr zone at 1.05960, to go long on a pull back. 

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

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rollandthomas
rollandthomas

I'm a retail investor like most of you and learning everyday, but I have been educated and trained to identified the Smart Money on the charts to pick up whatever crumbs they leave behind.

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