Right now GBPNZD is ranging, came down for Hl move and right now is about to go up for LH move, i'm just risking 1% of my account on it at a moment.
This is GBPNZD 4H timeframe analysis, i'm expecting the market to go up
DISCLAIMER: My analysis is just a trading idea! As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level. Good Luck!
The counter has formed a topping out formation in the near-term. It made a double top and has broken a key support level of 1.99508. Further, the round number of 2.00 can act as a psychological barrier in the near-term. Though a pullback to the top cannot be ruled out, we still expect the pair to be bearish in the near-term.
Retracement looks like its over, so waiting for price to breakout before going long
Keeping it simple and letting price dictate what it wants to do Waiting for price to break resistance before first buy then doing the same with the second There is divergence on multiple timeframes and price has broken a downward trend line (not drawn)
** JUST AN IDEA. NOT A SIGNAL ** Sorry we haven't posted in two weeks due to covid. We are back with GBPNZD, as we can see a weekly downtrend is continuing as the days go by. Momentum has been lost this week over the last few days with signs of a reversal. If the trade chooses to break 1.92770 barrier I expect to see a nice uptrend. Else if the trade breaks...
On this chart we can see a pull back that has occurred during this uptrend, a new level of support was found and price has come back to retest We are already in this trade and I will be expecting price to bounce off this level and continue moving up
Price has fast approached our marked level of support. This set up is showing the potential to retrace at least 50% of the bearish move before advancing lower. Entry, stop loss and take profit have been marked. Do not risk more than 2% on this date.
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We are in the middle of a pandemic right now with everything that is going on with the Corona virus. It seems to me that Australia and New Sealand were hit hard economically and will be in the next few weeks. My eyes will be on a long trade to the same level of the spike on March 8 which is a Monthly support and resistance level @2.17 On the other hand there...
GBPNZD expected to reverse up to 1st support at 2.03525 where it could potentially react and bounce to its resistance at 1st resistance at 2.04064. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.