The GBPNZD is after the Double top effect and is back on the rise. The GBPNZD over 2 important average lines (100,200) The candles are placed over the Ichimoku cloud that accompanies the GBPNZD with a green cloud! The Stochastic in the ideal area that recommends buying. All these technical data indicate continued increases. Target: 2.0370
We had a strong rejection off the 61.8 on the daily. Price has been moving correctively for a while on daily creating a giant flag. We expect price to possibly move back to the top of this flag if it doesn't keep breaking down. If price breaks out of this flag, take it to the -61.8 fib extension long term for we expect GBP pairs to be bullish in 2020. Trade with care :)
The GBPNZD is above the 200 moving average line which is a bullish sign. The Ichimoku cloud continues to be bullish on the pound. The recent declines were due to the pound's encounter with resistance at 2.03, but you can see very quickly the ups were coming back to the picture. Target: 2.09
The price will retest the Resistance and then go down further
GBPNZD Long Setup > Wait for shorter time frame correction > Bullish Price Action > Long
> GBPJPY Short setup > Wait for correction > Bearish price action > Wait for supp breakout > Short Trading CFDs on margin carries high risk. Please ensure you fully understand the risks.
In the second pick, a Double top template was created so we recommended a sale, there was a decrease but it did not hold and gbpnzd returns to increase in strength. The buying position will be with the trend. We believe that gbpnzd is on the way to resistance at 2.0400 and then if there is indeed breaking then the next target will be very very high.
An important Double Top pattern is created in the daily graph that usually causes pullback as you can see already started. According to Ichimoku, the upward trend will continue. Target: 1.9930
This is an update on the GBPNZD because of Brexit. previous idea didn't play out..non the less we continue to forecast as it created a rising wedge and if the 3rd touch confirms we go short..for those that trade support and resistance..there's a clear indication that previous high or resistance level is in play as well..happy trading..secure the bag
Price had a good bull run. The retracement seems to lose some steam but I think there is still some momentum left for one leg up. Price probably won't make a new high but I put my TP on the highest pivot point just in case. We have a nice window of opportunity to open a long trade with price showing support close to the trend line. Just be patient and see what happens...
bearish bat. waiting for PRZ zone
-->> broken daily support -->> wait for correction -->> sell after correction
We are trading 4th leg of the predicted butterfly pattern which is also at major support zone. We are predicting price action to bounce from here to complete the pattern. FX:GBPNZD
Price have broken down B leg of ABC correction for a potential 1000 over pips opportunity. Current entry price also shows a nice 1:2 risk and reward ratio.
Looking for a 50% retracement on this trade to enter at the grey line. Entry - Grey line Stop loss - Red line Take profit - Green line Risk exposure - 1% Risk to reward - 1:2 Happy trading :)