AUDNZD definitely moved towards the south and 5 consecutive candles on H1 chart closed below the lower Bollinger Bands. The pair formed the local low and the local high. They have thus been met 3 criteria of strategy Bollinger Bands # 3A.
We can now await breaking of the local low at 1.0593, which will be a signal for short (PUT option). Securing position (stop loss) could be found at this scenario, above the local high at (1.0625). The next goal is to turn 200 percent extension of the downward movement, which is close to 1.0493.
Test account with a broker binary options uTrader! Click here to invest
Binary options broker uTrader offers a return. If you win your account will increase by a percentage of the invested amount. If you lose, regardless of the size of the defeat, you never lose more than you bet.
