The AUD currency has broken out of a decade long trendline and the NZD isn't far behind. I therefore am looking to sell the GBP and EUR against these two currencies. There is a nice cluster resistance and broken trendline at around 2.3030 to push price down to target of 23.6% Fib retracement of the Sept22-Nov25 move. This might take a month or so to play out.
Sell Limit : 2.3030 cluster support
Stop : 2.3213 above Daily MAs
Profit : 2.2299 before 23.6% Fib retracement
Sept22 / Nov25
Risk 1 : 4 / stop is 183 pips
Sell Limit : 2.3030 cluster support
Stop : 2.3213 above Daily MAs
Profit : 2.2299 before 23.6% Fib retracement
Sept22 / Nov25
Risk 1 : 4 / stop is 183 pips
Order cancelled
Friday 30th January UTC-03:50am. I am cancelling this trade GBP/NZD because price action is too far away from my entry. I will look again next month.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.