GBPNZD sell
Updated
GBPNZD has entered into a recent downtrend. Its currently testing its floor support at 2.11274 with a heavy rejection of the EMA100 on the 4h timeframe from below. We can see a descending triangle formation starting at its peak and current price close to breaking the lower level of support again. Aiming for2.09100.
Reasons to take:
- Below EMA100
- Descending trendline
- Descending triangle formation.
- Stochastic is below 50 with D above K
- Momentum is negative
Reasons to take:
- Below EMA100
- Descending trendline
- Descending triangle formation.
- Stochastic is below 50 with D above K
- Momentum is negative
Note
Trade was entered @ 2.11562 and is currently @ 40pips
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