GBPNZD Downtrend and NZD potential StrengthHey Traders, In today's trading session, our attention is directed towards potential selling opportunities in GBPNZD around the 2.05800 zone. The currency pair is currently navigating a correction phase within its downtrend, steadily approaching the crucial 2.05800 support and resistance area. As we analyze this market, it is crucial to consider the broader market dynamics and the interconnected relationships between various currency pairs and financial instruments.
A notable factor to keep in mind is the potential strength in the New Zealand Dollar (NZD), driven by the bullish bias observed in major indices like Nasdaq. The positive correlation between stocks and the NZD suggests a possible influence on currency movements. Traders should remain attentive to evolving market sentiments and global economic factors that might impact the GBPNZD pair. A holistic approach, considering both technical and fundamental aspects, will be essential for making well-informed trading decisions in this dynamic market environment.
Trade safe, Joe.
GBPNZD
GBPNZD - Follow The Bears 🐻Hello TradingView Family / Fellow Traders,
📈 GBPNZD has been overall bearish , trading inside the falling channel in red and it is currently approaching the upper red trendline.
Moreover, the zone 2.055 is a robust supply zone.
🎯 Therefore, the highlighted red circle represents a significant area to consider for potential sell setups , as it marks the intersection of the blue supply and upper red trendline.
📚 As per my trading style:
As GBPNZD approaches the red circle zone, I will be actively searching for bearish reversal setups to capture the next bearish impulse movement.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
GBP/NZD BEARISH BIAS RIGHT NOW| SHORT
Hello,Friends!
Bearish trend on GBP/NZD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 2.017.
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Interesting level to watch for GbpAud and GbpNzdHello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Let's see how things play out at this key daily level turned Resistance.
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Sideway corrective pattern??or continuation of the downward trenHello there,
I hope you're having a great start to the new year. I wish you all the best in your trading ventures and a happy new year with your loved ones.
I'm a fan of the Elliott wave principle, which I find interesting and useful for market analysis. I've developed my analytical approach by combining this principle with my personal experience and considering various scenarios that are likely to occur in the market.
Although I'm going to share my analysis with you, please note that I won't be providing a buy or sell signal. My goal is to share my unbiased analysis so that you can use it as a guide to make an informed decision.
To give you confidence in my analysis, I'll always share my previous analysis from the same market so that you can compare. All the details of my analysis are clearly labeled, making it easy for you to understand.
I hope my analysis will be useful to you in your business journey, and I wish you the best.
I'm waiting to hear from you. Finally, I'd like to remind you that like-mindedness and support, comments, and likes are the most important pillars of progress, like support points in the financial markets. They give me the energy to continue and share more ideas with you.
Sincerely,
GBPNZD Buy signal on a Channel Down.The GBPNZD pair has had a strong decline since our last sell call (November 24, see chart below) breaking even below the 1D MA200 (orange trend-line):
The price is currently rising after making a Lower Low but not at the bottom of the (blue) Channel Down. For that reason we consider the emergence of a Diverging Channel Down that can break above both the 1D MA50 (blue trend-line) and the 1D MA200.
In any case the probability for a short-term rise is very high as the 1D MACD just completed a Bullish Cross and the last such formation below 0.00 (October 11), pushed the price all the way to the 0.5 Fibonacci retracement level. As a result our target is now 2.05200.
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GBPNZD: Instant Entry on Strong Bearish Trend with DOW Theory📉 Overview:
GBPNZD is currently in a robust bearish trend, offering traders an immediate entry opportunity. Our analysis, grounded in DOW Theory, underscores the strength of the downward movement.
📊 Technical Analysis:
DOW Theory principles highlight a consistent pattern of lower lows and lower highs, affirming the prevailing bearish trajectory.
📈 RSI Confirmation:
RSI shows no bullish divergence, reinforcing the sustainability of the bearish trend.
🎯 Trade Strategy:
Proposing an instant entry aligned with the bearish trend, traders can set predefined targets for potential profits.
🛑 Risk Management:
Implementing strategic stop-loss orders is crucial to manage risks and safeguard capital.
📉 Conclusion:
GBPNZD presents a compelling opportunity for traders to capitalize on the strong bearish trend. Confidence is derived from the synergy of DOW Theory and RSI analysis. Caution, risk management, and close monitoring are advised.
GBPNZD - Getting OverSold!Hello TradingView Family / Fellow Traders,
📈 GBPNZD has been overall bearish, trading inside the falling channel in red and it is currently approaching the lower red trendline.
Moreover, the zone 1.985 is a robust demand zone.
🎯 Therefore , the highlighted red circle represents a significant area to consider for potential buy setups, as it marks the intersection of the blue demand and lower red trendline.
📚 As per my trading style:
As GBPNZD approaches the red circle zone, I will be actively searching for bullish reversal setups to capture the next bullish impulse movement.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
GBPNZD Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring GBPNZD for a selling opportunity around 2.02000 zone, GBPNZD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 2.0200 support and resistance area.
Trade safe, Joe.
GBP/NZD BULLISH BIAS RIGHT NOW| LONG
Hello,Friends!
Bullish trend on GBP/NZD, defined by the green colour of the last week candle combined with the fact the pair is oversold based on the BB lower band proximity, makes me expect a bullish rebound from the support line below and a retest of the local target above at 2.042.
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YEMI_FX 1 | SHORT OPPORTUNITY ON GBPNZDPreviously price respected the resistance zone making it first touch of the , thereby validating it.
Currently GBPNZD price is moving to make it second test, we might see a corrective test as it behave in the first touch. Price will fill the wick @2.02631 . My target is to Price 2.0145.
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GPBNZD Falling Wedge & Bullish Divergence - Going Long 4H TFGBPNZD is in the falling wedge pattern with a price bouncing at the strong support line. Price actions shows bullish divergence with a possible reversal of going long. Placed a buy stop at previous LH with 1:1 RR. What you all think, Will it go long?
GBPNZD Long Term Buying Trading IdeaHello Traders
In This Chart GBPNZD HOURLY Forex Forecast By FOREX PLANET
today GBPNZD analysis 👆
🟢This Chart includes_ (GBPNZD market update)
🟢What is The Next Opportunity on CHFJPY Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the ChartS
GBPNZD Will Explode! BUY!
My dear friends,
Please, find my technical outlook for GBPNZD below:
The price is coiling around a solid key level - 2.0331
Bias - Bullish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear buy giving a perfect indicators' convergence.
Goal - 2.0434
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
GBPNZD Is Very Bullish! Buy!
Here is our detailed technical review for GBPNZD.
Time Frame: 3h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 2.032.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 2.043 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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