IS GBPNZD PUSHING UP OR DOWN?
Updated
Hello Traders:
Weekly Analysis: The market is in a descending channel with swing highs and lows leaving the market in a corrective stage which means that the structure isn't yet complete for a reversal. Price is on a bearish impulsive move to the downside within the channel on the weekly. Price is catching sellers and buyers in a corrective stage.
Daily Analysis: Price is making another descending channel within the weekly channel leaving the market in a corrective stage. Price is on a bullish correction move to the upside. Price is bouncing off-channel line. Could price hold on to this buying pressure??
Fourly Analysis: Price is making another smaller descending channel within the daily and weekly leaving the market with swing highs and lows. Price seems to be breaking above structure which means that the corrective stage is coming to a potential complete for a reversal to the upside. Looking for some sort of pullback for entry. Or could it be a fakeout?
Weekly Analysis: The market is in a descending channel with swing highs and lows leaving the market in a corrective stage which means that the structure isn't yet complete for a reversal. Price is on a bearish impulsive move to the downside within the channel on the weekly. Price is catching sellers and buyers in a corrective stage.
Daily Analysis: Price is making another descending channel within the weekly channel leaving the market in a corrective stage. Price is on a bullish correction move to the upside. Price is bouncing off-channel line. Could price hold on to this buying pressure??
Fourly Analysis: Price is making another smaller descending channel within the daily and weekly leaving the market with swing highs and lows. Price seems to be breaking above structure which means that the corrective stage is coming to a potential complete for a reversal to the upside. Looking for some sort of pullback for entry. Or could it be a fakeout?
Note
Note
Note
Price has broken descending channel. Could price create a newer continuation correction to the upside?
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