"AUDNZD Analysis: Key Entry Points for the Week"
🕵️♂️ Let's analyze the AUDNZD pair, update our previous analysis, and identify new entry points for the week.
🌟 Weekly Updates:
Starting from Monday to Wednesday, we'll cover , Monday: Bitcoin and Dominance analysis , Tuesday: Ethereum and ETH/BTC analysis , Wednesday: Gold analysis
These are in addition to our daily analyses.
🎉 Channel Milestone 800 Followers:
Thank you all for helping this channel reach 800 followers! Our next goal is 1,000 followers. Let's keep growing together!
📊 Previous Analysis:
In our last analysis, we leaned towards a long position due to the upward trend. However, we mentioned the possibility of a trendline break and a pullback, which could lead to a bearish scenario after breaking 1.09808. This scenario played out, and we haven't been able to return to the previous high.
⏰ Weekly Timeframe:
We're currently ranging within a long-term box, similar to most Forex pairs. This range results in significant fluctuations in lower timeframes.
The analysis is straightforward due to the range. A break above 1.10255 would suggest a long position for the long term, while a break below 1.05808 would suggest a short position. Within this box, no significant events are expected between these two currencies in this timeframe.
⏳ Daily Timeframe:
We've been rejected from the top of the box and consistently formed lower highs and lows, resulting in a deep corrective wave down to 1.08815. This level is significant both from a Fibonacci perspective and Dow Theory, representing a 50% correction.
Additionally, if the RSI breaks 58.55 and aligns with 1.08815, we could potentially see higher levels and even start a new upward wave since we haven't reached the bottom of the box and have started moving upwards earlier.
💰 Four-Hour Timeframe:
This timeframe offers a good position for potential trades in either direction. We can take advantage of this range if the weekly timeframe does not continue ranging.
After initiating a downward wave, we can draw a Fibonacci retracement, currently fluctuating between the 0.382 and 0.5 levels. Breaking 1.08853 could lead to further movement towards higher levels.
📉 Short Position Strategy:
breaking 1.08523 would continue the downward wave, considering this as a mere correction and targeting levels like 1.08117.
📈 Long Position Strategy:
breaking the significant resistance at 1.08853 could lead to a considerable move, potentially retesting 1.10255 since we haven't reached the bottom of the box.
Four-Hour Analysis
📅 New Analysis Section:
I've added a new section to our analyses, focusing on project events for cryptocurrencies and summarizing them for bull runs. For Forex, we review news and its impacts, which I believe is a valuable addition.
🌐 Reserve Bank of Australia (RBA) Decision:
The RBA decided to keep the interest rate unchanged at 4.10%, contrary to market expectations of a rate hike. This decision led to a depreciation of the Australian Dollar.
🏧 Weak Economic Data from New Zealand:
Weak economic data from New Zealand also impacted the New Zealand Dollar. Particularly, the Consumer Price Index (CPI) report showed lower-than-expected inflation, potentially reducing the pressure for rate hikes in New Zealand.
🤝 Combined monetary decisions, weak economic data, and commodity price fluctuations have significantly impacted the AUD/NZD exchange rate.
🔑 Key Support and Resistance Levels:
Supports Levels: 1.08523, 1.08117
Resistances Levels: 1.08853, 1.10255
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
🌟 Weekly Updates:
Starting from Monday to Wednesday, we'll cover , Monday: Bitcoin and Dominance analysis , Tuesday: Ethereum and ETH/BTC analysis , Wednesday: Gold analysis
These are in addition to our daily analyses.
🎉 Channel Milestone 800 Followers:
Thank you all for helping this channel reach 800 followers! Our next goal is 1,000 followers. Let's keep growing together!
📊 Previous Analysis:
In our last analysis, we leaned towards a long position due to the upward trend. However, we mentioned the possibility of a trendline break and a pullback, which could lead to a bearish scenario after breaking 1.09808. This scenario played out, and we haven't been able to return to the previous high.
⏰ Weekly Timeframe:
We're currently ranging within a long-term box, similar to most Forex pairs. This range results in significant fluctuations in lower timeframes.
The analysis is straightforward due to the range. A break above 1.10255 would suggest a long position for the long term, while a break below 1.05808 would suggest a short position. Within this box, no significant events are expected between these two currencies in this timeframe.
⏳ Daily Timeframe:
We've been rejected from the top of the box and consistently formed lower highs and lows, resulting in a deep corrective wave down to 1.08815. This level is significant both from a Fibonacci perspective and Dow Theory, representing a 50% correction.
Additionally, if the RSI breaks 58.55 and aligns with 1.08815, we could potentially see higher levels and even start a new upward wave since we haven't reached the bottom of the box and have started moving upwards earlier.
💰 Four-Hour Timeframe:
This timeframe offers a good position for potential trades in either direction. We can take advantage of this range if the weekly timeframe does not continue ranging.
After initiating a downward wave, we can draw a Fibonacci retracement, currently fluctuating between the 0.382 and 0.5 levels. Breaking 1.08853 could lead to further movement towards higher levels.
📉 Short Position Strategy:
breaking 1.08523 would continue the downward wave, considering this as a mere correction and targeting levels like 1.08117.
📈 Long Position Strategy:
breaking the significant resistance at 1.08853 could lead to a considerable move, potentially retesting 1.10255 since we haven't reached the bottom of the box.
Four-Hour Analysis
📅 New Analysis Section:
I've added a new section to our analyses, focusing on project events for cryptocurrencies and summarizing them for bull runs. For Forex, we review news and its impacts, which I believe is a valuable addition.
🌐 Reserve Bank of Australia (RBA) Decision:
The RBA decided to keep the interest rate unchanged at 4.10%, contrary to market expectations of a rate hike. This decision led to a depreciation of the Australian Dollar.
🏧 Weak Economic Data from New Zealand:
Weak economic data from New Zealand also impacted the New Zealand Dollar. Particularly, the Consumer Price Index (CPI) report showed lower-than-expected inflation, potentially reducing the pressure for rate hikes in New Zealand.
🤝 Combined monetary decisions, weak economic data, and commodity price fluctuations have significantly impacted the AUD/NZD exchange rate.
🔑 Key Support and Resistance Levels:
Supports Levels: 1.08523, 1.08117
Resistances Levels: 1.08853, 1.10255
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
