V-formation on the 240 period GBP/NZD
Since mid-March, the asset price has been negotiating in a range mode on the 4 hour period.
After a strong downward pressure on the price the asset began to recover valuing the British currency.
The scenario I now evaluate is a possible V-Formation that will make the price find support around 1.9415 and then resistance around 1.9631 that symbolizes the top of the range.
According to what the market does, long or short entries can be considered respecting lines of support or resistance.
This market analysis is just a investment idea, the same shouldn't be taken as a financial counseling without risk envolved.
CFD´s are very complex financial products that can result on the loss of most capital invested
After a strong downward pressure on the price the asset began to recover valuing the British currency.
The scenario I now evaluate is a possible V-Formation that will make the price find support around 1.9415 and then resistance around 1.9631 that symbolizes the top of the range.
According to what the market does, long or short entries can be considered respecting lines of support or resistance.
This market analysis is just a investment idea, the same shouldn't be taken as a financial counseling without risk envolved.
CFD´s are very complex financial products that can result on the loss of most capital invested