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Gbpnzdanalysis

GBPNZD Longterm view (LONG)My view of GBPNZD . Potential long opportunity. I am expecting a pullback to the downside due to bear flag being formed on 1D TF . We will see how things go ater ILO Unemployment rate is released. 1.92000 is an area that provided strong support throughout April and May . My idea is valid and will be active IF we come down to our Entry Level 1.92129 . My Stop Loss is well below a possible Stop Hunt at 1.91665 . At 1.96438 set your Stop Loss at Breakeven . At TP 1 close partial and wait for a clear break to the upside . If we fail to break 2.00686 again, we might get the third touch , “tripple top” (marked with red ellipses). TP 2 and TP 3 will be hit after clear breaks and continuations to the upside . PARAMETERS - Entry: 1.92129 - SL: 1.91488 - TP 1: 2.00686 - TP 2: 2.02692 - TP 3: 2.04316 KEY NOTES - 1D timeframe showing a possible bear flag formation . - ILO Unemployment rate released on 14th of September 2021 . - 1.920000 is an area that provided strong support throughout April and May . - If we fail to break 2.00686 again, we might get the third touch , “tripple top” which may cause the price to come down and retest the 1.920000 area. - TP2, TP3 valid only if we have clear breaks and continuations. Enjoy the rest of your weekend and happy trading.
Long
by BANDZTRADES
GBPNZD | Perspective for the new weekThe price dipped over 200pips in our direction since the last speculation before the rally began (see link below for reference purposes) and following an emphatic downward spiral that lasted 3 weeks, it appears we are at a juncture in the market that suggests that price is on the verge to reverse. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Trendline | Reversal pattern (Triple Bottom) Observation: i. It has been a Bearish run for the Pound since mid-August, 2021 before it found a bottom at @ NZ$1.93300. ii. The line drawn over pivot highs is a visual representation revealing the prevailing direction of price action in the last couple of weeks. iii. Since finding the bottom, the price has gone through a consolidation phase that culminated into what appears to be a successful breakout of Key level @ NZ$1.94250 (Neckline) during last week trading session. iv. A successful Breakout of the dominant Bearish Trend is a clue that Buyers are beginning to gain momentum. iv. There is a retest of NZ$1.93900 following the Breakout on the 9th of Sept. 2021. v. Depending on how the event unfolds when the market resumes next week, the rejection of NZ$1.93900 could be a signal for a rally continuation. vi. The early hours/days of the new week might see a price plunge into NZ$1.93800 - a level that has been tested more than a couple of times since the beginning of the month (Sept 2021) before the rally begins. vii. This been said, above Key level @ NZ$1.94250 remains a comfortable area for me to go long in the coming week(s) with an opportunity to add to my existing position at Breakout/Retest of NZ$1.94750... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:5 Potential Duration: 5 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
💡Don't miss the great sell opportunity in GBPNZDTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (1.9676). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . GBPNZD is in a range bound, and the beginning of a downtrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 30. Take Profits: TP1= @ 1.9571 TP2= @ 1.9471 TP3= @ 1.9327 TP4= @ 1.9171 TP5= @ 1.9004 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_World
24
INCREASINGLY BEARISH!!!Now let's talk about this beauty, i take trends very seriously. However, a break of such is one of my favorites and how could I turn a blind eye on this babe? First, let's take note of the quad top, denoting the lack of strength to breakout to the upside and continue with it's multiple week long trend. Secondly, please note the range this was trading in and how it was violated in one day, with which the range has been broken provides weakness and uncertainty for longs. Lastly, it's a long way before there's reasonable support making this risk to reward more tasteful. Extras, if you're going to take this trend wait for a possible retest of support area and if it doesn't reject do not short!! . Regards,
Short
by UnknownUnicorn22383955