Top Down Analysis From W-D-4HR-1HR
Hi All, Todays Idea is a Long Buy on GBPNZD, See Analysis Below:
Green Vertical Line - Weekly Support/Resistance
Blue Vertical Line - Daily Support/Resistance
Black - 4HR Support/Resistance
Continues Uptrend Corresponding With Trend Lines
0.5 Fib level touched with Bearish Candle
2x Bullish Pin Bars Indicating...
- Touched The 0.691 Resistance Level
- Bearish Engulfing Candle On Two Bull Candles
- Bearish Pin Bar Formed
- No Medium or High Impact News Scheduled For The Week
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-1.824 Resistance Become Support, Couldn't break past it on
-Currently at 1.0 fib level
-New resistance at 1.850 level.
- Will range for a few hours, set sell order around 1.840 level.
Bad news for AUD on nationwide construction. (-3.1%)
Good news for GBP on postponed BREXIT and High Street Lending (+40.6%)
Multiple Data Figures Released At 9:30am.
Estimated to weaken the GBP:
Manufacturing Production m/m
Prelim GDP q/q
The list goes on.
Get your orders ready with a 20 Pip TP on each end.
Signal Provided by @J2TRADERS (Instagram)
Consesis Credit : FXStreet