As we can see, GBP/NZD is failling to establish it's support zone. As soon as the support line is broken, we can expect the bearish trend to continue until it's next support.
Remember, preserving your money always comes first in trading. Your second goal is to grow your portfolio.
Trade safely.
Remember, preserving your money always comes first in trading. Your second goal is to grow your portfolio.
Trade safely.
Trade active
Comment:
Second TP at 1.9010 ;)
Comment:
Second entry opportunity at 1.9320 +/- 5 pips.
Comment:
Order cancelled:
Trading cancelled as prices moved back higher than expected and hit last important resistence emas. Now if those emas aren't broken, we could enter back in the move down, however if they are broken, the move is cancelled until further good sign. Furthermore, the very fact that it has gone up that much goes on to explain that the bears aren't as strong since such a big move happened. So the bearish move has been a little weakened and could continue on to find it's support for a reversal back up. Unless, of course, prices do not break the important last emas that acted as resistence and recovers the the up move it did back down.
Trade active:
GBP/NZD Still bearish on the long term until a strong support has been found. The break under 1.92 is imminent and could continue until 1.90.
I is not able to break over the 200 ema on the weekly chart. So next support is back at 50 ema. www.tradingview.com/chart/X4ATcsxs/
I is not able to break over the 200 ema on the weekly chart. So next support is back at 50 ema. www.tradingview.com/chart/X4ATcsxs/
Comment:
Comment:
Comment:
As it failed to break the 0.92 level, we can expect it to go back a little higher to make a correction/pull back and we can enter again from a higher price if the long term bearish move is still active.
Comment:
1.92* - A better trade opportunity would be with EUR/NZD which is currently in neutral consolidation. A bearish reversal is currently more expected than a bullish continuation.
Comment:
1.92 has been broken and we can expect the price to go as low as 1.90.
Comment:
The RBNZ Monetary Policy Statement caused prices to spike up. Whenever there is an important news coming such as an Interest rate decision, it means there will be a lot of volatility as the announcement is made. It is better to close any position in that currency for safety reasons before the announcement. Unless, there is a clear sign of a certain direction the market will take, we can take a chance if worth it and risk our allowed risk to take profit in the movement caused by the news release.