Looking to see if GBP can pullback to hunt for some liquidity before pushing lower, could possibly be a decent trade to the upside for about 50-60 pips but I find that when market sell-off they sell hard and fast don't want to be on the side where there is a clear downtrend on the H1 chart.
Will see how this one plays out next week.
#gbp #gbpnzd #gbpnzdshort
Hello Traders, here's an analysis of this pair. Let us know in the comments section below if you have any questions or share your thoughts.
Red is sell zone, white it take profit zone, and grey is buy zone (if shown).
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We recommend that you keep this...
Price is developing a structure.
as we see double bottom and recent pinbar with fake support breakout.
I am looking for a breakout of bearish trend and waiting for the European session to playout.
Not much dollar strength about but the NZD, one of my favourite SELLING currencies seems to be faltering. For several sessions the BULLS have struggled to force the price past recent highs at .6102 and my specialist indicator is flagging a moderate SELL on this pair. For a risk of 36 pips and a target of 146 pips - this looks a reasonable trade in the current thin...
NZDUSD closed with a bickering future as to any increase in price.
1. It broke out with a very ridiculously low volume viewed on 4 hours
2. It shows a DOJI candle on the daily
3. The FIB retracement coincided with the DOJI
If at all NZDUSD increases, its gonna stop at the o.618 FIb line coinciding with a major resistrance and go down.
Comment your thoughts. Gracias