GBPNZD: DT Curve Analysis
Updated
π As we analyze the GBPNZD, we observe a pivot high at 2.1587 and a pivot low at 2.00. If this downtrend curve analysis plays out, there may be an opportunity to sell at the significant resistance level of 2.146.
π Following that, we will encounter our first support level around 2.1, with the next support level at 2.08, which falls in the middle of the pivot range. It's important to note that there will likely be a lot of consolidation in this area.
π If the price closes below the mid-pivot, the downtrend is expected to continue. Conversely, a turnaround to the upside could occur at the major support level of approximately 2.0235.
π Let's remain optimistic and hope for favor as we navigate the market.
π Following that, we will encounter our first support level around 2.1, with the next support level at 2.08, which falls in the middle of the pivot range. It's important to note that there will likely be a lot of consolidation in this area.
π If the price closes below the mid-pivot, the downtrend is expected to continue. Conversely, a turnaround to the upside could occur at the major support level of approximately 2.0235.
π Let's remain optimistic and hope for favor as we navigate the market.
Comment
CORRECTION: Resistance Level to sell from @ 2.1426
Professor C. E. Ward
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