The NZD/JPY pair is trading within the cloud. A failed attempt to move higher will push the market to exit the Kumo, confirming a bearish scenario.
AUD/NZD: a trade idea
2019-11-11 • Updated
BUY 1.0440; TP1 1.0500; TP2 1.0535; SL 1.0420
AUD/NZD has substantially fallen in the recent days. More downside is likely. The pair will be vulnerable for a decline to support at 1.0440 (December lows). In this area, it should find support. The arrival to this levels will trigger a “Shark” harmonic pattern and lead to a rebound.
The NZD/JPY pair is now poised to exit the Kumo. If that happens, the currency pair will enter into a new bearish sentiment.
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