Wait for a break and close above the resistance zone
GBPNZD is a BIG sell due to news on the MPC Official Bank Rate Votes, Monetary Policy Summary, and Official Bank Rate today at 7AM EST. Price and Lagging Line will soon pass beneath the cloud. TP1: 1.9100 TP2: <1.9100
All information on chart. COMMENT any questions.
Technical Analysis: Bias Bearish - The pair remains capped below 200-DMA, recovery failed to break above - Momentum indicators bearish - RSI below 50 levels, biased lower - MACD well below zero levels and -ve DMI dominance Fundamental Factors: Sterling stumbles on lower inflation. UK inflation came out at 2.4%, below 2.5% that had been expected. GBP undermined by...
Another nice set up , Again DYOR and don't use money you cant afford to lose. Open a demo account and blow it all on this one trade.
GBPNZD 0.08% Price tried to break out of the bearish major TL but failed, looking for another 4 hour close below the TL & 61.8% fib ideally with a bearish engulfing or bearish spinning top to go short. To go long I need a 4 hour break of this candle with continued bullish momentum or a clean retest and rejection of the broken downward TL sending it back up to...
GBPNZD may find support around 1.80 as well as 1.90. I will be looking for bull candles on the daily time frame. If I get a bull candle, then I will move to the 1H and place buy limit orders at previous market levels.
If price moves up to 2.03 area, then I will be looking for bear candles on the daily time frame. If I get bear candles, then I will move to the 1H and place sell limit orders at previous market levels.
The GBP has shown a little strength (and I mean a little), more sideways movement, but this could get us back up into an area of resistance I've marked on the chart, then we'll sell that down to the final target of the attached much bigger Head and Shoulders move that I'm still in since May 16 from the top of the Right shoulder.
The four-hour chart reveals that the Sterling has been trading sideways against the New Zealand Dollar since mid-October, 2017. This movement has been constrained in a flat descending channel. The Pound was moving along a long-term trend-line since the beginning of 2018 prior to breaching the given line this week. From theoretical point of view, this breakout...
Even though I rarely trade the British Pound (in pair with the New Zealand Dollar then..), on GBP-NZD there is, however, a possible bearish signal if the currency pair will close below the dotted line with the target in area 1.9130/1.9085. Stop loss at 1.9480.
Selling this pair in correlation to the downturn of this pair, back down to next level support
Technical Analysis: Bias Bullish - Holds support at cloud base and above 110-EMA on daily charts - Price spikes past 20-DMA at 1.9454 - RSI shows strong upside momentum above 59 levels - Stochs have rolled over from oversold levels and biased higher - +ve DMI has crossed over -ve DMI, MACD is on verge of bullish crossover on signal line Fundamental Factors: -...
WAIT FOR THE BUY WHICH WILL TAKE PLACE IN THE PURPLE BOX. IF THIS PAIR MAKES A STRONG PUSH UP THEN IT WILL PASS THE MOST RECENT HIGHS, AT THAT POINT WE CAN EXPECT PRICE TO MAKE IT PAST THE $2 MARK. ON THE OTHER HAND, IF THE PRICE IS CHOPPY ON THE WAY UP WE CAN CONSIDER IT A RETRACEMENT AND CAN EXPECT PRICE MAKE LOWER LOWS ONCE PRICE IS DONE RETRACING. OVERALL...
Midterm forecast: While the price is below the resistance 1.9965, beginning of downtrend is expected. We make sure when the support at 1.9350 breaks. If the resistance at 1.9965 is broken, the short-term forecast -beginning of downtrend- will be invalid. Price may also reach 1.9350, if price reaches this level, we may enter by Daily-Trading-Opportunities, this...
Midterm forecast: While the price is below the resistance 1.9965, beginning of downtrend is expected. We make sure when the support at 1.9350 breaks. If the resistance at 1.9965 is broken, the short-term forecast -beginning of downtrend- will be invalid. Price may also reach 1.9350, if price reaches this level, we may enter by Daily-Trading-Opportunities,...