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31 Aug 2015
AUD/NZD intraday “Death Cross” formation
A bearish technical development has been detected in AUD/NZD, namely an intraday “Death Cross” formation.
This technical event consists of a cross of the 100-period below the 200-period moving averages. This per se rare event, becomes extremely rare if the pair has witnessed a meaningful correction before or during the cross. This bounce allows trend-following AUD/NZD traders adhere to the trend at fair valued prices following an otherwise very risky signal.
This technical event consists of a cross of the 100-period below the 200-period moving averages. This per se rare event, becomes extremely rare if the pair has witnessed a meaningful correction before or during the cross. This bounce allows trend-following AUD/NZD traders adhere to the trend at fair valued prices following an otherwise very risky signal.