Quite strong support and resistance playing out on GBP/NZD. I will be taking it to the previous support and will be looking on from there. My take profit is 1.89265 and stop loss is 1.913122. Good luck!
Following Downing street’s lockdown exit plan; the Pounds appears to have found a platform to rise against the Kiwi as confidence in the UK economy resumes!
With over 300pips in our favour since my last publication on this channel (see link below for reference purposes), we might be on the verge of a very LONG rally in the coming week(s) as the price seems to...
one of my favorite pairs, I have entered on 1.93340 and another one on my gold zone, and I'm aiming for 200 pips at least because we have many confirmations shows that it's. going down
Hi Traders!
GBPNZD has been trading a corrective channel for about two months. The pattern within the channel is unfolded as a double zigzag pattern. According to Elliot Wave theory, once a correction is completed the price will resume in the direction of the dominant trend. It's bearish in the GBPNZD case.
Another technical analysis that's supporting bearish...
GBPNZD has reached the top of an Ascending triangle on a 3 hour time frame.
- We Normally wait for a confirmation, either a break-out or reversal before
placing a trade.
Despite the UK’s coronavirus pandemic situation... I still hold on to an overall Bullish perspective due to the reversal structure (the culmination of 127.2 ext Bearish run) cited on my Daily chart; I am of the opinion that price is at a juncture where the opportunity for a quick counter-trend trade is possible before the rally begins!
Tendency: Short term...
Preconditions:
- accumulation
- key level
- false break out
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Hey traders, here is the analysis for the GBPNZD. NOTE - Please do your own analysis before taking the trade. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks.
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. this is no signal. it's my opinion. trade your own risk. and Must Follow Money...
GBPNZD is quite interesting as there is no strong structure levels before 1.87. There was a support ledge which has failed to hold and we can now see price failing to the downside.
BUYING GBP/NZD
Entry: 1.9043
Target 1: 1.9183 (140+ Pips)
Target 2: 1.9393 (350+ pips)
Target 3: 1.9638 (595+ pips)
SL: 1.8822 (221- pips)
R:R 2.7
its a 221- pips SL. Use sensible lot size. do not risk more than 1% per trade.
As we can see near resistence level MARKET is making a divergence for bearish movement.
If market confirm its Divergence then we fill find a short term bearish movement in this PAIR.
after this we will fine a reversal move for bullish trend near its support and TL
