AUDNZD - range trade
Today is peaceful day due to holidays in some countries and hence closed markets. But we can prepare for next days.
Looking at AN chart, we can see daily trading range of 160 pips with MACD divergence. From the news side, there will be RBNZ Financial Stability Report tomorrow evening (23:00 CEST) and quarterly Private Capital Expenditure for AUD on Thursday at 3:00 (also CEST time).
Taking all this this into account, on Wednesday morning we should be clear on direction for this pair. I marked potential zones for shorts and longs - depends which will come first and how it will behave there. Anyway, there are high RR opportunities for both sides.
Let's give it some time and act appropriately when it will be ripe.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Looking at AN chart, we can see daily trading range of 160 pips with MACD divergence. From the news side, there will be RBNZ Financial Stability Report tomorrow evening (23:00 CEST) and quarterly Private Capital Expenditure for AUD on Thursday at 3:00 (also CEST time).
Taking all this this into account, on Wednesday morning we should be clear on direction for this pair. I marked potential zones for shorts and longs - depends which will come first and how it will behave there. Anyway, there are high RR opportunities for both sides.
Let's give it some time and act appropriately when it will be ripe.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
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