Home Technical Analysis AUDNZD: Main objective meet, road opened to 1.15

AUDNZD: Main objective meet, road opened to 1.15

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Resuming our technical analysis series for the AUDNZD pair, we see how the pair has jumped reaching our previous detected technical objective at 1.1200.

Our target at 1.1200, was defined on May 31 when we published our first technical comment on AUDNZD, using weekly studies.

AUDNZD-Weekly-fxcomment-18-06-2015

Anyway, after making more than 500 pips as a profit, we prefer to long the pair gain, reinforced by the following technical factors:

  • Breaching the 1.12 catalyst.
  • Positivity on Aroon and Parabolic.
  • Strength of the reversal appearing on Know Sure Thing.

My new target resides in the 1.1500 zones and those who want to play the risk management game, we will enter the market with 200 pips stop loss, as if the stop is hit, we will be satisfied with 300 pips net profit from AUDNZD longs.

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Amir El-Araby Co-Founder & Chief Global Strategist at FxComment.com, with 17 years’ experience in the technical analysis studies for FOREX, Commodities and Indices. Amir El-Araby worked as a mentor for many companies and institutes, where he presented new methods for trading in the financial market. Amir is a member of ESTA (Egyptian Society of Technical Analysts). Amir is also the official partner of Harmonic Trader (Mr Scott Carney) and the official instructor of harmonic trader association for Arab countries.

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