In the chart pattern, Nzd is gaining ground to movement more than Gbp, we know that commodity currency has being doing well compared to what was expected of it do , in the sense of being weak.Moving with the trendline, the GbpNzd is aheading to a downward slope on the trendline having touched a resistant last week, the market mover has held it since last week i...
GBPNZD has fulfilled the Bc movement heading to CD, which will likely take the 7-8 days to accomplish, either we follow it complete the movement and then we can trade downward using 15mins for entries levels
There will be a big movement to the downward, even though there is a breakout from the trend-line.
price is will naturally be pulled to 200EMA, which makes our entries valid, going to the 4hrs will even strength you of its validate
There is a Strong resistance on this pair in the 4h timeframe, which has stood the taste of time very valid, upholding the fact that the downward trend still continues, which gives us an opportunity to look for entries in the lower timeframe, either in the 15mins or in the 1hr
There will be a harvest of profit in this pair, though slow, patience pay. Enter into it, go to sleep. We can see a Shooting star on the daily time frame, which will give us a push down.
We can see a flag pattern showing up in the 4h timeframe, showing us breakout for those who trade breakout.
On the 1h timeframe, you can wait to close and open below the 200...
It would be terrific trading this because its slow for now, looking at the trendline and the C leg of the Fibo being formed, it will be good to add up in this signal, i mean start with a little lot size, as it goes down, increase your lot size at every support you encounter, you can hold it till next week, at least for 5-10 day depending on the daily movement.
Looking at the chart, the trend line has being broken in the H4 timeframe, if you go to the 15mins timeframe, their is a downward movement already, we can enter, and put our take profit at 2.0608, but you have to be patience.
This is my idea of where gold will be in after the release of today's news, and also next week. I believe we should be expecting a 1700 target next week, looking at the expectation of the churches and business opening according to US President statement.