According Mark McCormick, Global Head of FX Strategy at TD Securities, suggests to go long on GBP/NZD cross at current levels, targeting a move to 1.90 and a stop of 1.8445.
“While all the G10 shows downside growth momentum, the USD, for its part, falls into the worst quadrant that shows dual deceleration. Even so, NZD takes top shop in terms of the...
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Bearish price action and pressure.
Break below previous lows and support zone of short/midterm long holders.
Market structure at a strong support zone, expecting some bullish price action now!
GBPNZD Nice zone and possible Cypher
RSI at bottom again
It can still go lower for the cypher pattern to still be in play, this is why i will watch price action on lower timeframe for a reversal or a break of structure
This is for my own research and not trading advice
We are at bullish hourly trendline, this little down trend might make one more low, I'm looking to buy at the bottom. This is just an idea for now, this may look completely different by the time news drops.
I really like that we retested a Point of control (red line) and the institutional players pushed this up.
I'm just going with the signals, which are...
GBPNZD has broke above the 180 EMA line on the 1 hour chart showing signs of higher highs and higher lows. Still waiting confirmation on daily chart over 180 day EMA, but when it breaks 180 EMA on the daily chart should reach the 1.96 level minimum. Keep an eye out for break on daily chart.