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AUD/NZD - Buy Signal For A Sharp Rally

Published 11/07/2017, 10:18
Updated 18/06/2017, 07:35

AUD/NZD opened with a marubozu candlestick, without approaching yesterday’s low as clearly showed by the HLOC indicator.

The currency pair gaind 0.50% since the beginning of the month, and our market statistics gave us eleven days ago an astounding 71.43% probability to see a monthly bullish candle forming on this market.

We’re above 50% on a weekly and daily basis too.

Momentum indicators converged this morning, signaling bullish pressure as highlighted by the Algo Zones.

Price action soon lined up, with the market pressure indicating a condition of confluence on a scalping, intraday and multiday basis.

These elements supported and confirmed the buy signal provided by the target geometry at 1.0451.

The market rallied sharply, hitting target 20 for a total gain of 95 pips.

AUD/NZD

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