Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

AUDNZD sell idea explained - 12 June 2024

12 Jun 2024 · 1 min

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Vladimir Ribakov breaks down why AUD/NZD is set up for a sell. The weekly chart is bouncing off its upper boundary, the daily broke below a rising trendline, and the 4-hour shows three consecutive lower highs and lows. He suggests selling rallies toward Fibonacci levels as long as resistance holds.

Chapters

Is it time to sell the Aussie Kiwi? Let's take a look on the charts. Weekly chart is moving in a flat range and so far it's bouncing right from the top of it, pushing the price down. After the daily chart broke below the trend line, the rising trend line, rising supportive line, the 4-hour chart completed classical bearish price structure: 3 lower highs, lower lows. I believe on the short term we might see pullbacks Towards the Fibonacci levels, but as long as they hold and as long as these resistances that you can see here on the four-hour chart hold, for me, sell the rallies for the longer run sounds like the smart plan.