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Gbp-nzd

GBP/NZD 1H Chart: Long-term channel in sightThe British Pound has been depreciating against the New Zealand Dollar since the beginning of October when the currency pair reversed from the upper boundary of a long-term ascending channel circa 2.0500. The general is expected to remain south. Technical indicators for the short term support bearish scenario. It is likely that the exchange rate aims for the lower channel line located near 1.9250. If given channel holds, a reversal north could occur and the pair could target the resistance cluster formed by a combination of the weekly and monthly PP, the Fibonacci 23.60% retracement, as well the weekly R1 in the 1.9733/1.9838 range.
by UnknownUnicorn890690
GBP/NZD short for 1.9085- Price action has slipped below 200-DMA and daily cloud - Breaks major trendline support at 1.9315 - Momentum studies bearish, RSI sharply lower - MACD supports downtrend and ADX is rising in support of the trend Data Watch: - UK employment data (Tue) - UK CPI inflation (Wed) - UK Retail Sales (Thur) Support levels - 1.9087 (88.6% Fib), 1.90, 1.8909 (June 5 low) Resistance levels - 1.9243 (78.6% Fib), 1.9304 (5-DMA), 1.9413 (200-DMA) Stay short on upticks, SL: 1.93, TP: 1.9087/ 1.90/ 1.89
Short
by FxWirePro
GBP/NZD LongSitting at weekly support. Looking at a possible Fibonacci pulback and breakout if price closes above daily trendline. I think the NZD needs to take a breath after a few weeks of strength giving the pound a chance to take over for a little while. Because of the bearish momentum, Stop is set tight and if the weekly level doesn't hold I am expecting a deep fallout for better bullish prices. -Solid black lines are weekly levels support/resistance (major) -Dotted black lines are daily levels support/resistance (minor) Membership signal blog and Ebooks: www.GratefulChartArtist.com
Long
by davistradingforex
the euro fulfills a triangleThe euro approached the lower boundary of the channel and its breakdown turned out to be false. Further developments will of course be tied to the volatile news, which this week is enough. But at the moment it can be said that an unsuccessful test of the channel boundary will lead with a high probability to an attempt to rebound. With a high volatility, this will go into working out a triangle marked with green borders. Under low volatility, the gray-hill will slowly rise along the lower boundary of the triangle with attempts to break up. Today, on my channel, we have already taken a profit, we will continue at the same pace.
Long
by Strateg_
GBP/NZD - short break below 110-EMAThe pair is in a downtrend since 10th Oct after hitting multi-month highs of 2.047. Price action is currently holding support at 110-EMA at 1.96, break below will see resumption of weakness. Next major support lies at 61.8% Fib at 1.9505 ahead of 1.93 (major trendline support). Rejection and bounce off 110-EMA eyes immediate resistance at 1.9761 (55-EMA) ahead of 1.9858 (21-EMA). Support levels - 1.96 (110-EMA), 1.95 (61.8% Fib), 1.93 (trendline) Resistance levels - 1.9695 (5-DMA), 1.9761 (55-EMA), 1.9857 (21-EMA) Good to stay short on break below 110-EMA, SL: 1.9695, TP: 1.95/ 1.93
Short
by FxWirePro
GBPNZD approaching support, potential bounce! GBPNZD is approaching our first support at 1.9621 (horizontal overlap support, 61.8% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 2.003 (horizontal swing high resistance, 50% Fibonacci extension). Stochastic (55,5,3) is approaching support and we might see a corresponding rise in price should it bounce off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Long
by Tickmill
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