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AUD/NZD closing in on weekly fibonacci expansion level

Aud/Nzd is moving towards 61.8% Fibonacci Expansion level on the weekly chart
Both Aud and Nzd have weakened the last couple of weeks due to economic situations
Aud however, seems to be the weaker currency at the moment,
this is reflected in the Aud/Nzd chart
On the weekly chart we find a nice fibonacci expansion playing out - the 61.8% level
of the last move down seems to be a real target here,
the RSI_14 is below 40, and it point to another move down
Aud/Nzd weekly chart
As I write this …
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AdamFx42 28 mar

support area has held the move down and we are moving up towards target area now

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Pair broke my combined support area, and came close to parity
Now move back up should follow, parity now support level

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AdamFx42 29 avr

Support area turned out lower than I expected,
but as you can see on my daily chart the action continued after the lows as I predicted,
price is now exactly on my target

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AdamFx42 30 avr

holding on target - just 10 pips below now

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ended about 20pips higher - not bad

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Weekly trendline support for AUD/NZD

Aud/Nzd still looks definetely bullish
MACD and RSI are both bullish on the weekly chart
and the price is now supported by a weekly bullish trendline
The 61.8% fibonacci expansion level of the last weekly move should be the next weekly target
and it lies above the previous highs at 1.1335
Aud/Nzd weekly chart
On the daily chart we find that the 61.8% fibonacci expansion level of the last daily move
coincides with the lower border of the weekly trendline
and this combination should strengthen sup…
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AdamFx42 19 oct

Weekly trendline has indeed held the drop in price as I predicted
1.10 is now still support area  and the price should move up towards target here

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AdamFx42 30 oct

Price moving as predicted now - up towards target area, and has already taken out previous highs

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Price has tested trendline and bounced back up - looks to retest it again now,
hopefully the move up will follow then

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AUD/NZD rejecting the highs

Aud/Nzd seems to be in for a trip down as we see on the weekly chart
that price action is leading the pair away from the upper border of the weekly channel it is in:

Aud/Nzd weekly chart
On the daily chart we see that the pair has put in a double top below the upper trendline
within the weekly channel, this is a bearish sign;
also, the pair is moving down at the moment towards the lower border:
Aud/Nzd daily chart
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Price needs to return back into weekly channel for my prediction to hold

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AdamFx42 23 sep

price has returned back into weekly channel and is about 80 pips above my predicted target now, as long as 1.10 is resistance now, I have a good chance

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Looking away from the majors today

Today is the release of the NFP figures in the US - these figures are expected to come in strong -- opinions among professionel traders forecast around +210k, while the consensus is around +170k
There is a good chance the major pairs will jump and fall a lot on the release, so I decide to stay out of these
I have found two interesting pairs to trade that will hold up technically whatever the release numbers are:
Aud/Nzd has dropped 500 pips the last couple of weeks, and seems to be supported ar…
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