UsmanFarouk

AUDNZD likely for Bearish reversal on 1H/4H timeframes

Singkat
FX:AUDNZD   Dolar Australia / Dolar New Zealand
AUZNZD is in uptrend as it is printing HHs and HLs on 1H and 4H time frames. However, it has printed a Bearish DIvergence on RSI along with a Double Top formation on both time frames indicating a possibility of a bearish reversal in the short run. Taking lead from the chart, I have placed my short entry (marked with blue dashed line) on break below the neckline, with SL (marked with red dashed line) just above the last swing high/ double top formation. TP (Green dashed line) has been set with RRR of 1:1.

Happy trading!
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