GBPNZD trade ideas
GBP/NZD - Daily AnalysisOverall on the weekly time frame we are seeing an uptrend.
The daily chart shows a correction forming after a bearish impulse (potentially a correction of a weekly move from the buyers).
If we can see a close below daily support, then this may lead to another bearish impulse back to the overall trendline.
GBPNZD Weekly Analysis and OutlookGBPNZD Weekly Analysis and Outlook
This week, the GBPNZD pair appears to be gearing up for a continuation of its uptrend, following a brief downward correction on the hourly timeframe. This pullback seems to have provided the necessary consolidation, positioning the pair for a renewed upward movement.
Current Market Overview :
After experiencing a short-term downward trend, the GBPNZD pair found support at a key level, halting the decline and suggesting the potential for a reversal back into its broader uptrend. The correction allowed the pair to cool off from recent highs, and the current market conditions indicate a readiness to resume the upward trajectory. As the pair begins to recover, traders should watch for a break above near-term resistance levels, which would confirm the resumption of the uptrend.
Expectations and Potential Scenarios:
Given the recent stabilization, we expect the GBPNZD to continue its upward movement in the coming sessions. The pair's ability to maintain support during the pullback suggests that the overall bullish structure remains intact, providing a strong foundation for further gains.
Primary Expectation:
If the pair successfully breaks above the immediate resistance following this correction, it is likely to continue climbing towards higher resistance levels. This scenario would validate the uptrend and offer favorable conditions for long positions.
Alternative Scenario:
However, if the price struggles to break through the resistance and encounters renewed selling pressure, we may see another brief pullback. Traders should consider this possibility, as it could present additional opportunities to enter the market at more attractive levels before the uptrend resumes.
Conclusion:
In summary, the GBPNZD pair is poised to continue its upward trend after a short-term correction on the hourly timeframe. Traders should focus on the upcoming resistance levels as potential catalysts for renewed bullish momentum. By staying alert to both bullish and corrective scenarios, you can effectively navigate the market and adjust your strategies as needed.
By Piptera Digital Solutions,
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GBPNZD Head and shouldersOn this trade we have a clear head and shoulders but the reason for publishing this trade is that i think EUR and GBP will drop.
The neckline of this head and shoulders is slightly skewed is more like a trendline and I don't like trendlines as they are not reliable so I will the blue horizontal level for my breakouts to avoid fadeouts.
I will be aiming for a fixed 2.5R but will consider taking profits at 2R
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GBPNZD Analysis: Unveiling Bullish Opportunities with Strategy Hello Traders,
The chart above presents a straightforward and revealing analysis for the GBPNZD pair, showcasing two compelling signals of bullish market momentum.
Firstly, we observe the distinctive Cup & Handle pattern. The price has successfully surpassed the 161.8% Fibonacci level, now targeting the 200% level, which aligns with the 261.8% extension at 2.2200.
Secondly, within the context of an ascending channel, the price has traversed the midpoint, setting its sights on the same 2.2200 target.
Considering these indicators, initiating a long position with a target at 2.2200 appears justifiable. At present, there's no evidence of a daily timeframe market reversal. Even in the event of a retracement (as depicted in the red rectangle), which might span two weeks and cover 500 pips, it should be regarded as an opportunity for accumulating more positions.
While acknowledging the potential for corrections, it's crucial to approach trading with fragmentation of positions, exercising patience over impulsivity. An initial long position at 1% of capital is prudent, with the option to scale up by 1% for every 100-pip correction total 5%, ensuring careful risk management throughout.
Best regards,
GBPNZD: Bullish Confirmation Across Multi-Timeframes
GBPNZD Multi-Timeframe Analysis:
- The bullish bias on GBPNZD is confirmed across both the 15-minute and 1-hour timeframes.
- On the 15-minute chart, the price is trading above the 200 MA, generating a buy signal that
aligns with the overall bullish sentiment.
- The 1-hour chart further supports this outlook, as the price has successfully broken above the
200 MA, a strong indication of continued bullish momentum.
- With both timeframes confirming a bullish trend, the 15-minute chart's 200 MA has provided a
solid entry point for buying.
- Currently, the price is approaching the 2.14300 level on the 15-minute chart. A breakout above
this resistance would confirm a bullish scenario on this timeframe.