In the Weekly Markets Analysis this week, as promised, I'm trying to find out where GBPNZD might be heading in the near future by analyzing the weekly and monthly chart to add a "bigger picture" review to my previous analysis posted here last week.
Hey marketzone, I just wanted to ask that, we are still bearish on this pair correct? Thanks!!
themarketzone
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Well, I'm bearish as long as the price tells me otherwise. If you read the analysis, you know that we are very close to some serious support zones. I've already liquidated most of my position..
Longer term, I'm seeking buying opportunities.
If this pair is indeed making a monthly bottom, I want to be on the long side.
Too soon to tell
moneymaking
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Nice, the market did close below the 200 MA, that should push it further down a bit before going higher. Currently the market is making lower lows and lower highs. I'll stay bearish as until this pattern is broken. Great advice once again. Thanks a lot!!