Gbpnzdshort
GBPNZD IDEAYou can use Red trendline for short trade , Blue trendline for long trade , will swing between trend lines
Please like for support
GBP/NZD High Probability ShortThe head and shoulders pattern is almost complete for this pair if we take a horizontal neckline. On top of this, New Zealand are releasing their Visitor Arrivals data, which will be down due to the current climate. However, there is a real chance these numbers could fall even lower than than forecasted, putting more downward pressure on NZD, further supporting this trade.
On top of this, the horizontal neckline assumption coincides with the 0.618 Fibonacci level, so breaking this support is definitely key.
Let me know what you think!
GBPNZD Short! 1hrNote: Idea is to complement your research.
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GBPNZD Short! 4HrNote: Idea is to complement your research.
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GBP/NZDResistance not broken on H1 and there's an ascending channel on H1 but this most likely will be broken.
Also, we can see a Double Top forming after the retrace and this pair may go down for another 400-500 pips
GBPNZD IDEAYou can use this channels and fibo 0.618 level , first sell top of the channel then we will looking for buy opportunity
Two possible scenarios for GBPNZD next week.. On screen analysisWe are in the middle of a pandemic right now with everything that is going on with the Corona virus. It seems to me that Australia and New Sealand were hit hard economically and will be in the next few weeks. My eyes will be on a long trade to the same level of the spike on March 8 which is a Monthly support and resistance level @2.17
On the other hand there could be a big change of events which could lead to a decline in value of the British Pound. Therefor we will first see a clear break of the recent Up trend and probably support turning in to resistance @2.02. When this happens my target will be 1.94 in a short trade.
Trade with care and caution! I will keep you posted on this one.
