GBPNZD Bearish Divergence + Disequilibrium
On the hourly and half-an-hourly timeframe, GBPNZD is showing bearish divergence signalling a pullback/reversal from its highs. Furthermore, price action is making higher highs while the Relative Strength Index is forming lower highs.
Additionally, there is disequilibrium between price and the conversion line (Fast Moving Average) on the hourly and 4-hourly timeframe. Price should retreat to meet the conversion line before potentially creating even more disequilibrium between the conversion line and base line which should also meet bringing price even lower towards it. Any tips/advice on how I could improve this analysis?
Additionally, there is disequilibrium between price and the conversion line (Fast Moving Average) on the hourly and 4-hourly timeframe. Price should retreat to meet the conversion line before potentially creating even more disequilibrium between the conversion line and base line which should also meet bringing price even lower towards it. Any tips/advice on how I could improve this analysis?
Comment:
The overall trend is upwards as shown by the Ichimoku Cloud so expect strong support and follow the price action and how it reacts to the levels. price already testing around TP 1.