Hey traders, here is the analysis for the GBPNZD. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks. NOTE - Please do your own analysis before taking the trade.
We just formed a bullish flag on the daily and broke above it and price seems to be wanting to move up higher. We also have a major area of resistance which will be our first target and where we should see a retracement before the continuation to the upside.
From a COT data we have a very strong GBP during the past two weeks against a pretty steady NZD so we...
Plan: wait for the price to bounce off support level/demand zone --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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🟢 Forex Pair :
⚪ Technical Analysis :
Since the 13th of January 2021, the price has been moving with a clear side trend, bouncing...
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
GBP/NZD has been in an uptrend , r especting the ascending channel since the beginning of the year
Currently the price is almost touching the bottom trend line ( retracement ).
I expect the price to show a reversal , with the buyers taking control of the market, increasing the price and continuing the ascending channel .
I will wait for a clear rejection...
professionals increasing gbp long positions since last few weeks, professionals increased 7% long positions by last four weeks, while reduced 3% shorts positions in nzd. split your position by dividing half risk each with following levels, 1.9180 and 1.9105 for target 1.9450.
As we can see here GBPNZD reached our ressistance, broke above then already came nicelly to retest the area.
scaling to 2H TF you can spot a double bottom that has been formed at the support area(Previous Ressitance).
i will wait on market opening the pair to reach the 55% of fibbonaci to enter Longs.