ridethepig | AUDNZD Market Commentary 09.12.2020

📌 Buyers attacking and maintaining the pressure!

Since the initial weakness we spotted at the lows, we have seen the birth of an impulsive leg higher:

Of course this is very promising, buyers have much rather played the breakup and we got our momentum gambit! Well, for those wondering what rendered the base as valid, I would point you in the direction of the NZ10Y chart which was calling for the end of NZD strength as soon as we approach the 1.00% target.

We must be clear that in AUDNZD 1.055x contains a lot of interest, the ambitious dream of forcing a straight leg towards 1.075x and forcing our opponent into complete capitulation is far from fiction. We can now attack the breakout and force the aggression. The continuation might be 1.055x -> 1.062x -> 1.075x which keeps NZD under pressure.

Thanks as usual for keeping the feedback coming 👍 or 👎

Сделка активна

Сделка закрыта: достигнута тейк-профит цена:

TP3 hit! ✅

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A quick chart update here for those holding their lottery tickets;

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And finally we have it...