GBP fell against all the majors after the disappointing retail sales figures.
It fell even harder against NZD after RBNZ interest rate decision, which brought the price back to very interesting levels.
Price stalled at the old trend line support and have bounced back since, breaking the initial resistance of 2.3400 ...
RBNZ cuts interest rate by 25bp to 3% and hints further easing. 25 bp cut was already priced in and the market was expecting a 50 bp cut hence we see this strength in kiwi dollar. I will be watching the 1.1020 area very closely, a break below will give room for further correction but a hold will resume the upward ...
This has been stuck in a range for a while so keeping a close eye on it because of recent bullish price action.
Is it ready to break out of its range ?
Enter ONLY if price breaks above 0.96000 level and holds.
3 Positions will be opened with a fairly tight stop loss.
Please note that this is a very slow moving ...
Adding further to my previous analysis about this pair, there seems to be a head & shoulders pattern emerging. I will be taking a short position If the next few candles close below the neckline. If the price crosses above the neckline, I will wait for it to get to the next kill zone which is the top red trend line.