GBPNZD Support and Resistance 280919
A breakout from either side will see price move to confluence support zones of Fibs and SR.
Preference is to see price break upwards as a retrace of current down wave fib50 region (in confluence with other resistances)
and thereafter shorting down to the TP area Fib 38.2 (in confluence with other resistances).
However, if GBP remains bearish and NZD remains Bullish, we may see price quickly breaking out downwards to TP area.
Preference is to see price break upwards as a retrace of current down wave fib50 region (in confluence with other resistances)
and thereafter shorting down to the TP area Fib 38.2 (in confluence with other resistances).
However, if GBP remains bearish and NZD remains Bullish, we may see price quickly breaking out downwards to TP area.
Trade active:
On Friday, afew hours after our update, TP1 was hit and immediate buying from the support at TP1 saw the week close near to the Fib50 of current down wave.
Thank you for your eye time.
Thank you for your eye time.
Trade closed: target reached:
TP2 Hit for a Home run. Hope you liked this trade idea.
Thank you for your eye-time
Thank you for your eye-time
Trade closed: target reached:
What next? Follow the link below for current idea on GBPNZD.
CUurently the mkt has to break the thick horizontal arrow in (updated chart in link below) order to continue its move to our TP1 (*TP1 is updated as we take into consideration, Fibs levels (price level dependent) in conjunction with other confluences).
May we be in the wave!