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AUD/NZD 4H Chart: Channel Up

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 26, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    AUD/NZD 1H Chart: Triangle Comment: AUD/NZD appears to have formed a triangle within the channel we looked at yesterday. Given the overall bullish bias and the signals provided by the technical indicators, the break-out to the upside seems a lot more likely than a decline. Above 1.0770 the currency pair should aim for the January 19 high at 1.0840. Nevertheless, there is also a strong counterargument, since the Aussie is overbought (74% of positions are long), meaning we should not rule out a

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