GBPNZD Forecast Jan 30 - Feb 3

I'm still waiting for price to reach the 1.7480 area, as long as the 1.7150 support holds.

This is my forecast for the week ahead. It will be updated everyday during asian session for any changes. Do scroll down to look at the comments for updates. I'll be using Daily charts from now on, cos that's the TF that I actually use.

If my charts are not clear, you can pm me anytime to ask any questions, I am more than willing to help. And if you want to look at my positions, you can click my etoro link from my profile, you will see my trading positions under portfolio.

Nothing is 100% in trading, it is a game of probabilities. Be nimble when trading, never have a strong bias. I can turn from bullish to bearish in a day if price action tells me so.

Comment:

Tuesday Jan 31

Yesterday's move did break support, however we need to see if that resistance holds today to be short tomorrow.

Comment:

Wednesday Feb 1

Price has broken back up, if it can break further above 1.7270 then we will see more upmoves, else if it fails, price may go sideways for a while.

Comment:

Thursday Feb 2

The whole upmove looks overstretched, we should see a test of support today.

Comment:

Friday Feb 3

I prefer to see a break of support to start the downtrend.