A friend of Forex100 asked when is the better time to exchange her SGD to AUD.
Sadly, she needs it by Tuesday 20 Nov 2018. Our take, change it today and you may like to short the currency to earn back the difference.
If you have questions like this just #askForex100, every week we will be choosing 1 question and share our anlaysis on your question, however,...
AUDNZD on daily chart
Indicators are on the downside
Price fell on bollinger bottom band
In this case, we can be expected to the decline
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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Stay short EurGbp or, if you prefear, long GBP!
Since the macro economic data started to improve, the pressure on the exchange rate has became stronger. The beginning of rates normalization will make the UK's currency more expansive versus the Euromoney.
At the same time, the chart seems to confirm the bearish view: It is unlikely (given also the macro-analysis)...
Intraday Analysis Overview
- Technical Strategy: Long@.8380
- Trendline Broken On Daily Chart
- Candlestick Pattern: Morning StarTrend is down, but chart showing possible pullback, and this is considerable counter-trend.
On elliottwave, we are able to count five waves down on NZDUSD and considerable we will be in wave 2 / wave B. Price brokendown...