AUDNZD is currently ranging in the monthly chart, the trend is down so with this we are trading with the trend, we see that price is nearing monthly market structure and is due a retracement down, we are looking for price to attempt a BOS to then trade a sell in this market. NZD had good fundamental news the other day so we would expect this strength to continue, meanwhile AUD on the weekly momentum meter need to retrace, we've hit a many year high on the weekly momentum meter. We'll be looking for a daily or weekly candlestick to end bearish before looking to take this trade.
R:R = 1:14
GL.
R:R = 1:14
GL.