Trading strategy for the currency pair AUDNZD

  • Mar 01 2017
  • by
  • Analyst AZA
Trading strategy  for the currency pair AUDNZD

Trading strategy and signals for the currency pair AUDNZD

Interested in forex trading heres what you need to know.
Finally, the Forex market went from a state of suspended animation, and even somewhere moved its quotes of currency pairs. Trump speech had a stimulating effect on traders and investors, forcing them to buy and sell stock assets. Many currency pairs are broken out of the shackles of corridors and different ranges. Will the trends continue the way is not yet clear, but we, as active traders should be ready for any surprises. Many European giants such as Royal Bank of Scotland, Societe General, Credit Suisse received an award in the increase in the price of its shares from 1.5 to 3.5% and major European stock indexes traded in positive territory. Our attention was drawn to the currency pair Australian and New Zealand dollar, the fact that it has long been located in the lateral movement and cannot break through the resistance level. This level is well and clearly visible on the daily period. It often turned into a level of support, but as time has shown, there is strong until now. Price for the last few days several times came up to it, but was pushed back. Technical Summary of the pair involves buying, because these countries has the political stability and budget performance assured. Given that yesterday there was a strong impulse, which was expressed in the growth of prices, it is possible to count on a further increase in the price of the currency pair. Therefore, 100 points to the next level of resistance is quite real.

The price is above a simple moving average 200 MA and 20 MA indicating bullish trend.
The MACD trend indicator is above zero level now, indicating bullish movement.

If the resistance level is broken you can use the following recommendation:
•    Chart timeframe: Day
•    The trade recommendation: Buy
•    The level of entry into long position: 1.0770
•    The level of profit and close the position: 1.0870 (100 pips)

Precious metal GOLD 
Possible bearish movement in the breakdown of the support level 1241

Forex currency pair GBPUSD
Possible bearish movement in the breakdown of the support level 1.2320

Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 1.0120

Forex currency pair EURUSD 
Possible bearish movement in the breakdown of the support level 1.0520
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