Vladimir Ribakov analyzes AUD/NZD and identifies a bearish setup. Price is rebounding off a supply zone while the 4-hour trendline breaks and MACD shows lower highs against higher price highs, a divergence signaling a corrective down-move.
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Hello traders, Vladimir here from Home Trader Club, and here is my analysis on the Aussie-Kiwi and my sell plan on this pair. The first thing we can see here is that the pair is bouncing directly off an important swing high zone, creating a massive supply area. Next thing, after making sequence of higher highs, higher lows on the candles, we start to make lower highs, lower lows. Next important Moment here is the break of the rising trend line that is created right now on the four-hour chart. Despite the market is or was making higher highs, the MACD moving average making clear lower highs, completing a bearish divergence. I believe the break below this trend line is the first sign that a bearish corrective movement is coming. For more real-time trading opportunities and real-time trading education, join us in Home Trader Club.