AUDNZD price pattern indicates higher prices

[ProFXTrader]

Trade set-ups for 05/15/2015



Currency Pair: AUDNZD
Closing Price: 1.0790
Entry Order: BUY stop @ 1.0803
Stop loss: 1.0770
Take profit: 1.0911

Analysis: This pair has formed a double-bottom price pattern in early April near the 1.0000 level. Since putting in a bottom this pair has thrust higher. For the past few trading sessions this pair has been in a consolidation. Penetration above today's NR4 bar should propel prices higher.

 

[peeterwoolf]

Aud/Nzd was trading almost flat yesterday.

 

[Abeer Saba]

hi ProFXTrader,

your method is more about breaks in support/resistance levels i use it myself and its been proven if break happened it usually continue up being said that i would putting an alert by email/phone to see when if there's a pullback after break .

Good Luck !!