Trading news

AUD/NZD: Bull ready to move upon a breakout at a key level

AUD/NZD has been bullish in the daily chart. The pair produced a doji candle in the daily chart yesterday. Today’s price action suggests that the price may get bullish, and it may make the pair produce another bullish daily candle. If that happens, the pair may continue its bullish move for some days. The H4 chart shows that the price produced a bullish engulfing candle at a key level of support. If the price makes a bullish breakout at consolidation resistance, the buyers may go long and push the price towards the North further.

Chart 1 AUD/NZD H4 Chart



The chart shows that the price has been in consolidation within two horizontal levels of 1.08440 to 1.07990. The level of support has produced a bullish engulfing candle. If the price makes a breakout at the level of 1.08440, buyers may go long and push the price towards the level of 1.09065.

Trade Summary:

Entry: Buy above 1.08440

Stop Loss: Below 1.08000

Take Profit 1: 1.09065

Take Profit 2: 1.09400

Take Profit 3: 1.09965

EagleFX Review

Friday, 07 Aug, 2020 / 12:21

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source :

Trading news

 

Stocks lick wounds; pound tumbles on lockdown fears

  Selloff in equities eases but sentiment still subdued amid virus [...]

Posted on Tuesday, 22 Sep, 2020 / 9:56 under

DOW weighed down amid fresh lockdown worries – DOW JONES Market Outlook – 22/09/2020

Global equities tanked on fresh lockdown worries across Europe and possible [...]

Posted on Tuesday, 22 Sep, 2020 / 8:19 under

1.17 is the line in the sand for the Euro – EUR/USD Market Outlook – 22/09/2020

The bearish pressure on the Euro is mounting as price is currently trading [...]

Posted on Tuesday, 22 Sep, 2020 / 8:18 under