GBPNZD Bullish Continuation in play. A nice breakout followed by a rejection of the previous resistance. Details are on the chart.
After gbpnzd went the other way for us it could be that market is breaking out. However there is lots of news surrounding gbp at the moment so this could fail
GBPNZD is approaching its resistance at 1.8677 (23.6% & 61.8% Fibonacci retracement, horizontal pullback resistance) where it could potentially reverse to its support at 1.8468 (38.2% Fibonacci retracement, horizontal pullback support). Stochastic (55, 5, 3) is testing its resistance at 93% where a corresponding reversal could occur.
CADJPY is approaching our first resistance at 85.06 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where a strong reversal might occur below this level pushing price down to our major support at 84.31 (horizontal swing low support, 100% Fibonacci extension, 50% Fibonacci retracement). Stochastic (89,5,3) is also approaching...
EURUSD have been trading in a multi-days compressing channel, at the moment it is testing the base of the channel, i am looking for the market to break this area and consolidate a bit for another move to test the prior lows. Keep watching this market and please read carefully the highlighted area on chart. Trade Safe. Thanks for your support.
EURAUD broke out quite sharply few weeks back followed up by a double top on bigger picture. As now this market rallying a bit but to me it seems like market momentum is weakening across the board which signals for a downside to ensue. Watch for compression here and strong bearish expansion bars to build positions or if you have your trading strategy consider...
GBPAUD is approaching its support at 1.7236 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.7552 (61.8% Fibonacci extension , 23.6% Fibonacci retracement). Stochastic (89, 5, 3) is approaching its support at 1.8% where a corresponding bounce could occur.
EURUSD have been quite choppy across the bigger picture at the moment, on a shorter term time frames, euro attacked prior highs yesterday and couldn't sustain the rally and fell sharply breaking down the short term uptrend line. For now i am expecting a consolidation to continue a bit to then further falls around the prior lows. Keep an eye on this market for a...
GBP/NZD hits fresh 13-month lows at 1.83 handle, bias lower. Momentum with the bears. Price action has slipped below weekly cloud and rising volatility signals further drag lower. Markets largely ignored upbeat IHS Markit's Manufacturing PMI. Brexit uncertainty to keep any recovery attempts in the pound capped. The pair eyes next major support at 61.8% Fib...
Aprox. levels: 1.857; SL: 1.918; TP: 1.74 (1) 1.74 (2) (6.32%) (-3.18%) = 3.14
Here you can see a break of a big ascending trendline starting from January 2017 which appeared to be holding strong but now that price has broken through we are seeing a retest of it - creating the possible scenario of further downside. Also, we have the UK's Brexit plan to be passed through parliament so expect large amounts of volatility.
This afternoon, GBP and NZD came to effect, which is looking to become a long. The lagging line is indicating that GBPNZD will go up. TP: 1.8950-1.901
The 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...
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GBPNZD looks to be making its way for a strong sell as price is heading down. There is still GBP news in the next few minutes to most likely push its way down. TP1: 1.8732 TP2: 1.8700 TP3: 1.8681
Monthly and Daily direction is Down Have a Triple top on the 60 min TF (shown by Yellow line) Have all elements of a cloud breakout Entry = 1.8772 Stop = 1.8845 Risk = 74 PT = 1.8549 * May want to take some of your position off at the prior low of 1.8670