EUR/GBP, AUD/NZD Stuck in Range ? but Remain Bullish ✅

2 min read

Dear Traders,

the AUD/NZD is building a bullish correction towards 1.15 on the weekly time frame. The uptrend channel on the daily chart is providing the pair with strong support but price is currently buiding a triangle pattern on the 4 hour chart. A bearish breakout could price challenge key support zones at 1.08-1.09 whereas a bullisk breakout could see price move towards 1.12 and then 1.15.

The EUR/GBP double top reversal pattern could kick start a bearish ABC pattern if price manages to break the support zone of the wider range. A bullish breakout above the resistance trend line, however, would indicate an uptrend continuation.

See the video below for all of the details


Good trading,

Chris Svorcik

.

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of