On the daily chart I am seeing that the price will test the 61.8 Fib line on the daily chart cycle this would put price in the area of 1.95383 ( the markets will be extra unpredictable as the Brexit situation is ongoing and awaiting the EU vote to accept the delayed Brexit withdraw of of the 29th of this month. ) As of right now I see there being room for growth...
The pin bar on the last daily and the expectation of a retest of the resistance level are enough confluence to justify my belief that it will go to the 1.95991 level next week and possibly try to test the 1.97550
GBPNZD is approaching our first resistance at 1.9421 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1.1332 (61.8% Fibonacci retracement).
Stochastic (21,5,3) is also approaching resistance where we might see a drop in price....
BUY & SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
GBPNZD is approaching our first support at 1.9289 (horizontal pullback support, 61.8%, fibonacci extension, 23.6%, 38.2% Fibonacci retracement) where a strong bounce might occur above this level to our major resistance at 1.9486 (horizontal swing high resistance, 76.4% Fibonacci retracement).
Stochastic (89,5,3) is also approaching our support where we might see...
GBPNZD is approaching our first support at 1.9333 (horizontal swing low support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) where we might see a strong bounce above our support to our major resistance at 1.9568 (100% Fibonacci extension).
Stochastic (21,5,3) is also approaching support where we might see a corresponding bounce in price.
Trading CFDs...
As can be seen from the graph above, there is strong resistance in 1.97, The pound has already tried twice to break this resistance without success, in our opinion he(#GBP) is going to try this resistance again for the third time, This is one of the reasons for our buying recommendation
Buy GBPNZD:
Take Profit: 1.9670
Stop Loss:1.9250
BUY & SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
BUY & SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
GBP/NZD has shown a breakout at 200-DMA, raising scope for further upside.
The pair has broken major trendline resistance at 1.9125, bias bullish.
Technical studies support upside.
Next major bull target lies at 1.9426 (Jan 25 high) ahead of 61.8% Fib at 1.9574.
We see weakness on retrace and close below 200-DMA.
Support levels - 1.9250 (200-DMA), 1.9167...
*A strong daily candle close above breakout box (red) stops out my short trade and confirms a buy trade.
Trading Criteria:
Regardless which way you want to trade, look for minimum five 4hr. candles in consolidation zones (yellow border boxes), or five daily candles for solid yellow boxes. If you're a pattern trader or pinbar trader, this might be useful here....
