ForexTradingZones
Short

GBPNZD - Descending Wedge 240-min

FX:GBPNZD   British Pound / New Zealand Dollar
GBPNZD             currently @1.9417. The break of the descending wedge BELOW the 1.9390 will give us a potential short to the 1.9380-9350 level where in the past have found some buyers (see diamonds at June 11 & 26th). The ATR ( Average True Range ) for the pair is currently at 98 pips.

We would like to see the break of the wedge and continuation to the downside (past buyers area @1.9370-50), but on the other hand we have to take in consideration the moves of the GBPUSD             and NZDUSD             . Both are moving really slow and without clear direction. NOTE: If you look at the MACD , we have some divergence – where the MACD is going higher but the currency keeps printing lower candles – again a potential fake or message that the bounce is about to go north.

On the GBPUSD             , we have been stuck in a range of 1.7105-1.7160 and the NZDUSD             not giving away the short below the 0.8800. NZDUSD             currently stuck in the 0.8800-0.8825 area. So, until we get a clear direction going into next week, we will be trading the break of the DESCENDING WEDGE .
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out