GBPNZD: Classica and Harmonic Structure Signal Further Recovery
GBPNZD: Classical and harmonic structures signaling additional recovery
Chart Setups:
1- Bullish harmonic pattern.
2- Potential inverse head and shoulders pattern with a confirmation line in the 1.9500 regions.
3- Prices are being carried by SMA20 from the underside.
4- Fibonacci retracement of 23.6% of CD leg was taken out, opening the door up towards 38.2% where the first technical objective of the harmonic structure resides.
5- Vortex and Know Sure Thing indicator reflect the strength of reversal.
6- Neckline is very close to 38.2% Fibonacci.
Buy at current trading levels aiming to beat confirmation line with stop loss at 1.9060. Soft target is at 1.9820 where we can close 50% of the quantity used for long positions, while the main technical target of this setup resides at 1.9960.
Chart Setups:
1- Bullish harmonic pattern.
2- Potential inverse head and shoulders pattern with a confirmation line in the 1.9500 regions.
3- Prices are being carried by SMA20 from the underside.
4- Fibonacci retracement of 23.6% of CD leg was taken out, opening the door up towards 38.2% where the first technical objective of the harmonic structure resides.
5- Vortex and Know Sure Thing indicator reflect the strength of reversal.
6- Neckline is very close to 38.2% Fibonacci.
Buy at current trading levels aiming to beat confirmation line with stop loss at 1.9060. Soft target is at 1.9820 where we can close 50% of the quantity used for long positions, while the main technical target of this setup resides at 1.9960.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.