Technical Analysis update

British Pound/New Zealand DollarFXCM

Description

⋅ Mar 12, 2015 5:42 PM

As per your request, here's how I see the GBPNZD situation right now.
2.0-2.01 is a very strong daily support zone - Could lead to a pullback to the 2.04 zone (maybe even 2.05)

Judging by the strength of the recent sell off, the price could attempt to breakdown this zone, if it will manage to do so, it can drop all the way down to 1.94 (longer term bearish target) to complete a daily bullish Bat.

Overall, my longer term analysis suggests GBPNZD should reached higher levels and I'm looking for places to buy it again.

Will cover GBPNZD in the next Weekly Markets Analysis - Subscribe and stay tuned
themarketzone.net/

Comments

moneymaking

⋅ Mar 12, 2015 5:44 PM

Awesome, will keep an eye on the levels that you indicated. Thanks for sharing your analysis themarketzone and Good Luck to You :)

themarketzone

⋅ Mar 18, 2015 8:28 AM

Nice.. 200 pips for the bulls

moneymaking

⋅ Mar 18, 2015 12:34 PM

Ya, But I couldn't cash that in. Waiting for another opportunity :)

themarketzone

⋅ Mar 18, 2015 12:35 PM

Now wait for the Bat. I think its going there

moneymaking

⋅ Mar 18, 2015 12:37 PM

Ya, better to wait for the FOMC statement, the market won't be the same after that statement comes out.

themarketzone

⋅ Mar 20, 2015 3:57 PM

Did you trade the down side on its way to the Bat?

moneymaking

⋅ Mar 20, 2015 4:06 PM

I actually shorted after the FOMC, market came back to 100 MA and took a short position from there. It was a good trade. How about you?

themarketzone

⋅ Mar 20, 2015 4:28 PM

Was focused on metals and majors. Can't complain :) Good job

moneymaking

⋅ Mar 20, 2015 9:02 PM

That's good, eurusd was really good one. You could have probably gotten even a better trade from that. Have a Great Weekend :)