[New Chart]: There is a new opportunity to sell in GBPNZD...

FX:GBPNZD   British Pound / New Zealand Dollar
Midterm forecast:
While the price is below the resistance 1.9965, beginning of downtrend is expected.
We make sure when the support at 1.9350 breaks.
If the resistance at 1.9965 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Price may also reach 1.9350, if price reaches this level, we may enter by Daily-Trading-Opportunities, this entry is not according to Trend Hunter Strategy, and depends on personal strategies.

Technical analysis:
A peak is formed in daily chart at 1.9755 on 04/26/2018, so more losses to support(s) 1.9350, 1.9210, 1.9095 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 51.

Trading suggestion:
There is possibility of temporary retracement to suggested Sell Zone (1.9640 to 1.9835), if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

Beginning of entry zone (1.9640)
Ending of entry zone (1.9835)

Entry signal:
Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting Star" or "Peak", in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:

Take Profits:
TP1= @ 1.9350
TP2= @ 1.9210
TP3= @ 1.9095
TP4= @ 1.8930
TP5= @ 1.8785
TP6= @ 1.8640
TP7= @ 1.8270
TP8= @ 1.7900
TP9= @ 1.7440
TP10= @ 1.6705
TP11= Free

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