As previously mentioned in previous posts NZD is starting to pick up strength earlier on in this week.
- NZD strong fundamentals
- Waited for technical buy zone
- entered position
- USD Weakness due to various trade issues
- Import tariffs hurting manufacturers in the U.S.
- This is causing job cuts and reduced spending in the economy meaning less GDP...
Expecting the daily support level to BREAK!
- EUR WEAKNESS from the Logikfx fundamental analysis: www.logikfx.co.uk
- Italy debt crisis continues (Bigger than the problem in Greece!)
- NZD starting to ramp up some strength in the past week
- Technical sell zone and resistance level were confirmed by large bearish engulfing candles
GBP/NZD has been overbought for some time having consolidated in the daily sell zone for a period of time.
- GBP: -5 Fundamental score
- NZD: +28 Fundamental score
- Growing brexit complications with no deal causing GBP uncertainty (selling off the GBP)
- NZD picking up pace with China starting to pump up demand again
hi guys ,
i've already caught the two major rejection from the trend line , now that the price has moved enough is retracing , forming an eventual ross hook pattern ( or 1 , 2 , 3 how you wanna call it ) serving us a pretty sharp entry in favor of the north-directioned microtrend , get ready to trade guys and let me know if you will trade this setup . cheers
we can already see that the chart has formed the left shoulder and the head but yet has not completely formed the body of the right shoulder. This is a high potential sell but please make sure you keep up with the British pound Fundamentals. This is analysis is known as the head and shoulder chart pattern.
Trade at your own Risk!
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price coming up to the 0.705 and 0.79 zone on the fib also a price reversal zone so expect a push to the downside. also take note that on the 5min chart price has tested the 150MA (RED LINE) several times and was unable to break through it so my thoughts is that it will be used as resistance.
I am waiting here for a sign for a pull back up on the green zone. If the trend doesn't continue, it will break the trend line an come further down to test the bigger support! Lets let's wait what the pair does and if we can make some money!
The EURCHF reversed from weekly support and broken out of descending trendline and key resistance level.
Currently, the price is making a bearish correction to retest the broken resistance level that lined up with moving averages and 50.0 Fib ratio level as support.
EURCHF bearish correction which unfolding as ABC zigzag pattern is probably a wave...