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We see stocks moving higher now, with DAX breaking to a new high, probably in wave 5 which means that upside can be limited about we already talked yesterday. There is 61.8% Fib. level that can cause a potential turn from around 12700. E-mini S&P500 is looking weaker than Dax for the last few days [...]
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The GBP/USD remains under immense pressure as the US Dollar storms the board. The Technical Confluences Indicator shows a dense cluster of support around $1.3915. This is the convergence of many significant technical levels: the Fibonacci 61.8% one-month, the Bolinger Band one-day Lower (Stdv. 2.2), the BB 1h-Lower, the one-day high, and more. Below this line, the [...]
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AUDNZD has been Bullish on the H4 chart. Today’s price action has been very Bullish as well. The first two H4 candles came out as Bullish candles. One of them has made a breakout at a significant level of Resistance. Thus, if we get a good corrective H4 candle and an H1 Bullish Engulfing Candle right at the breakout level, then buying the pair would get us some green pips. Let us have a look at the H4 AUDNZD chart.
AUDNZD Price Action Analysis – 24th April 2018
Have a look at the huge Bullish H4 candle, which made a breakout at the level of 1.06535. If the current H4 candle comes down and gets held at the breakout level, then an H1 Bullish candle right at the breakout level would drive the price to the level of 1.07260. Let us have a look at the summary of the trade…
There is a saying in the Forex market “The longer it ranges, the harder it breaks”. As we see on this chart, the H4 chart had been on a range for a long time. In fact, the price caught in the range for 3 days. Now have a look at the breakout. The breakout has been a massive as well. I strongly believe that the pair would attract many buyers to keep their eyes on it. Now things they are going to wait for are the correction and the Bullish H1 Engulfing Candle.
AUDNZD Price Action Analysis – 24th April 2018
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