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Gbp-nzd

GBP/NZD fails to hold break above 20-DMA, stay shortGBP/NZD fails to hold break above 20-DMA, we see scope for further weakness. Technical studies are bearish. RSI below 50, biased lower. Stochs show bearish momentum. The pair is on track to test 100-DMA at 0.9190. Break below 100-DMA could see test of 1.9115 (Triangle base). Violation at 'Triangle base' support will see major weakness in the pair. Scope then for test of 1.8883 (38.2% Fib). On the flipside, we see immediate resistance at 20-DMA at 1.9376. Decisive breakout there could see some upside. Support levels - 1.93 (5-DMA), 1.9376 (20-DMA), 1.9420 (Apr 6 high) Resistance levels - 1.9248 (23.6% Fib), 1.9190 (100-DMA), 1.9134 (Ichi cloud top) Good to go short on rallies around 1.9285/95, SL: 1.9376, TP: 1.9250/ 1.9190/ 1.9135
Short
by FxWirePro
GBP/NZD long set up GBP/NZD has bounced off major trendline support at 1.8930, bias higher. The pair has broken above daily cloud and technical studies have turned bullish. RSI shows strength at 60 levels and is biased higher. Stochs point north and momnetum is bullish. We see +ve DMI crossover and ADX is rising in support of the trend higher. The pair is currently hovering around strong trendline resistance at 0.9575, breakout to see further upside. On the flipside, 100-DMA is strong support at 1.9138, retrace below to see resumption of weakness. Support levels - 1.9138 (100-DMA), 1.9113 (5-DMA), 1.9076 (20-DMA) Resistance levels - 1.9275 (trendline), 1.9453 (Feb 8 high), 1.9462 (Jan 25 high) Good to go long on breakout above 0.9275, SL: 1.9145, TP: 1.94/ 1.9450/ 1.95.
Long
by FxWirePro
GBP/NZD! LONG OR SHORT?!WELL WELL WELL. Look at what we've got here guys, a real opportunity to go long! Cool, so currently prices are approaching the 1.93000 Region and we may get the opportunity to go to the upside taking out prior highs and also penetrating the 1.95000 Region. HOWEVER. What seems realistic is that prices will head down to our support zone and may bounce of the key level to the upside or we run the risk of going to downside target of the 1.91000 Region . (KISS ON THE TREND LINE) Whichever way this goes, you might want to look at your volume guys! Be Safe!
Long
by Graignm09
GBP/NZD short setupGBP/NZD pauses at major trendline support at 1.8925. Price action is below daily cloud and technical studies are bearish. Further, bearish RSI divergence adds to bearish bias. Break below 1.8925 raises scope for test of 200-DMA at 1.8549. Violation at 200-DMA could see further weakness. On the flipside, 20-DMA is strong resistance at 1.9050. Breakout above daily cloud invalidates bearish bias. Support levels - 1.8925 (trendline support), 1.8785 (Nov 9 low), 1.8614 (Jan 12 low), 1.8549 (200-DMA) Resistance levels - 1.9019 (5-DMA), 1.9050 (20-DMA), 1.9136 (cloud top) Good to go short on break below 1.8925, SL: 1.9050, TP: 1.8785/ 1.87/ 1.8615/ 1.8550.
Short
by FxWirePro