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.
