FX:GBPNZD   British Pound / New Zealand Dollar
I expect price to continue upward at least to retest the last minor high. I still find the NZD to be relatively weak and the GBP strong enough to continue up the fork.
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Possible scenario?
ForceFollower HamzaLeith
It's possible. But now I expect it to test the lower border of the horizontal range.

HamzaLeith ForceFollower
yes GBPUSD keeps falling as well!
Aren't you worried about the expected rise in Interest Rates for NZD on wednesday. Or do you just view that as noise?
Could just be noise..... NZD has been really weak lately while continuing to raise rates.
+1 Reply
ForceFollower FaultyKid
How about that: http://www.fxstreet.com/analysis/expert-commentary/2014/06/09/?utm_campaign=nldigest&utm_medium=email&utm_source=nldigest_session_20140609&utm_content=title ? - esp. the last paragraph.
I see this as a good play. If you're looking at horizontal support and resistance (hourly time frame), you'll see that 9757 (where it is now) is a spot of pretty good resistance. If it clear this resistance (which I think it will) I think your forecast will be dead on. Good Analysis
ForceFollower TradersClassroom
Thanks. :) Yeah, lots of multi-pivot lines, both horizontal and sloped. Thus lots of trading opportunities. :)
TradersClassroom ForceFollower
How do you feel about the Kiwi later this week? NZD is expected to increase rates on Thursday (Wednesday for the US) by 25 points.
ForceFollower TradersClassroom
I think this interest rate rise may be already priced in by the markets. It will be no surprise to anyone.
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