GBPNZD - Bulls taking Charge - Daily
Updated
Traders,
An important break happened just recently on GBPNZD - I've been keeping my eye on the pair for some time now as we consolidated in breakout formation just below a significant resistance. Last Friday we surged past it.
This move also coincides with another major break on NZDUSD.
As this is a daily trade it can take some time to mature - or it can shoot for the moon right away. Targeting 1.98 (which is below one of the major sell legs from Brexit)
A deeper correction is always possible, but price in general should remain above 1.86, the upper side of the bullish flag. NZDUSD in similar fashion is set to stay below .7000 (as it has already done so) but it's possible for one last extension into .7000 to .7050 area.
Don't miss this opportunity but be patient.
An important break happened just recently on GBPNZD - I've been keeping my eye on the pair for some time now as we consolidated in breakout formation just below a significant resistance. Last Friday we surged past it.
This move also coincides with another major break on NZDUSD.
As this is a daily trade it can take some time to mature - or it can shoot for the moon right away. Targeting 1.98 (which is below one of the major sell legs from Brexit)
A deeper correction is always possible, but price in general should remain above 1.86, the upper side of the bullish flag. NZDUSD in similar fashion is set to stay below .7000 (as it has already done so) but it's possible for one last extension into .7000 to .7050 area.
Don't miss this opportunity but be patient.
Note
I'm no fortune teller, but I would secure partial profits on NZD trades. Secondary optimal entry seems likely to occur. The market doesn't usually make this sharp of a move without allowing big money to change their hands. Use your judgement.Note
Pay close attention to where the market is currently resting - I gave warning that there would likely be a 2nd chance opportunity for this trade. We are retail traders at the mercy of those with big money.
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