Two possible scenarios for GBPNZD next week.. On screen analysis
We 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.
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.
Comment:
Price hit a critical point today, the trend line and neckline. Be patient and on the lookout for a window of opportunity to open a trade. I will keep you posted when I open mine!
Comment:
Price broke through the Daily Uptrend line once again, but bounced right back up into the Countertrend Triangle. This means will still doesn't have a solid window of opportunity. Let's see what tomorrow will bring us!
Comment:
Our patientce really got tested with this one... Still waiting for a definite break