GBPNZD is currently at a critical support and has touched the bottom of a falling wedge type formation on a Higher Timeframe. We can potentially see good upside this week and our targets are 1.94000 (initially) and 1.96500. Good Luck!
GBPNZD
Recently market had broken out of bullish channel and went sell but not able to cross the strong support zone. So from now i am looking for long move with SL below the support.
price make a broadening wedge pattern, and the last structure price made an uptrend but already breakout, it will be going down and break out the support or going down for bouncing back to the uptrend.
I predict price will be bullish, especially since NZD GDP will be released. I predict the result will be bad because New Zealand was in lockdown for the past month due to spreads of coronavirus.
The instrument continues to trend upward.
Breakdown of the trend line on August 12 and 13 did not lead to a reversal, growth continues, possibly retesting the 1.9670-1.9630 zone.
A breakdown of the price below 1.9630 will mean a trend reversal.
Previous Idea in Take profit....
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gbpnzd buy :
Reasons :
there are many support levels here,but market is going in a nice upward trend ,but it can retest and we cant be sure at which particular point it does retest,as there are 2 levels ,
so my best guess is that wait for the 2nd retest too and if it doesnt go there then we can place an uptrend
take profit will be the above support level which is gave
We are still waiting patiently, watching the corrective movement of this pair.
Price is still retesting the level and showing bullish signs.
We keep our eyes focused so as to not miss the push when it comes.
With some more rejections at the level, we could see continuation sides to this uptrend.
This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
This Currency Pair Worth of Trading This Week Because it has Bullish Bias along with Two Confirmations
1-Ascending Triangle Chart Pattern
2-200 MA Support
3-Fibonachi Levels
Price also dropped for GBPNZD yesterday. We dropped until 61.8% retracement of recent rally. At the same time, there is weekly support around this level so we could say this is an area of confluence support.
Also it appears there is a possibility double bottom pattern forming. We could see some rally to the upside if this pattern play out.
Buy GBPNZD...
Hello Traders Welcome back to another profit day
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Here is the full analysis for this pair, Let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you...
