GBPNZD broke out of a descending triangle which dates back to April of 2013 and Sept of 2015. After the breakout we saw a nice retest of the downtrend and the support level of 2.07500 which the pair held like a champ. It may be a bit too late to chase this pair but it's compelling around these levels of 2.11000 for the only reason that this pair should see 2.13500 before it sees 2.07500 level again.
Our algorithm is giving us 92% chance of seeing 2.13500 level within the next 1 - 2 weeks. We must admit, our conviction is not very strong as it feels we are chasing this pair a bit. We should have been buyers yesterday, closer to the 2.10000 level. It may be prudent to wait and see if you can grab it under 2.10500.
Our algorithm is giving us 92% chance of seeing 2.13500 level within the next 1 - 2 weeks. We must admit, our conviction is not very strong as it feels we are chasing this pair a bit. We should have been buyers yesterday, closer to the 2.10000 level. It may be prudent to wait and see if you can grab it under 2.10500.