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GBPNZD

Prepare for Action: 1000 Pip Move On The Horizon ??We're approaching a key area on the chart that holds massive potential. It's the Monthly SUPPLY/SELL zone, a zone that emerged in 2020 during the chaos of CV when we witnessed an incredible near 1000 pip spike in just minutes, reaching an astounding 2.17. While revisiting those levels may be unlikely, we have a great short opportunity. Here's what I want to see is a climb towards the Weekly resistance level at 2.10, marked prominently in RED on the chart. This level presents a prime area for considering short positions, although hitting it precisely may not always happen. Timing and adaptability are key. Consequently, my strategy involves keeping an eye out for SELL signals as we edge above 2.09 and incrementally building a short position. The profit potential for this pair is substantial, with an initial target at 2.05, denoted by the green shade. Not only does this level serve as a former weekly resistance, now turned support, but it also possesses the appeal of being a round number. Once we reach 2.05, anticipate a potential bounce towards 2.075, followed by a significant SELL OFF that could drive us towards the 2 handle and even lower. This move has the potential to yield several hundred, if not over a thousand pips. I hope you found this analysis insightful and engaging. If you enjoyed it, I appreciate your support through likes and follows!
Short
by TheFxAce
17
GBPNZD TRADE LONG AFTER NEWSOn GBPNZD, after a short setup, the price has entered a box drawn on the H4 chart with a strong reaction. Here, the price could reverse, which is why I have set a long trade with a target at 2.0650 and a stop loss at 2.0490. I would like to point out that on the M15 timeframe, the price has formed a bullish candlestick pattern with a retracement to the 50 Fibonacci level. All of this has confirmed my entry. It would be fantastic if you could share your opinion and leave a like to support our work. Happy trading to everyone from Nicola, the CEO of Forex48 Trading Academy.
Long
by EdgeTradingJourney
GBPNZD Will Go Higher! Long! Here is our detailed technical review for GBPNZD. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 2.068. Considering the today's price action, probabilities will be high to see a movement to 2.077. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
2
GBPNZD SHORT TRADE ON VALUE GAPOn GBPNZD, we have had a bearish setup since Wednesday the 28th. My trade is based on a price retracement with validation inside a value gap around 2.0765. The price experienced a spike at the entry, retracing to the 61% Fibonacci level. The target is set at 2.0647, which corresponds to the second low we have on the H1 timeframe since our entry. It would be fantastic if you shared your opinion and left a like to support our work. Happy trading to everyone! Nicola, CEO of Forex48 Trading Academy.
Short
by EdgeTradingJourney