GBP/NZD 1H Technical Analysis
📊 Market Outlook
✅ Bullish Trend Confirmation
Price is above EMA 200 → Strong uptrend.
EMA 5 > EMA 21 > EMA 50 > EMA 200 → Short-term and mid-term momentum are aligned for upside movement.
RSI at 71.73 → Overbought conditions, a pullback may occur before further upside.
⚠ Potential Reversal Signs
RSI is over 70, which suggests potential exhaustion in buying momentum.
If the price starts closing below EMA 5 or EMA 21, a retracement may begin.
📈 Long (Buy) Setup
Entry Criteria
Wait for a pullback to the EMA 21 (2.2095) or EMA 50 (2.2047).
Look for a bullish engulfing pattern, pin bar, or rejection wick.
Ensure RSI remains above 50 to confirm bullish momentum.
Trade Execution
Buy Limit Order: Around 2.2095 - 2.2050 (pullback zones).
Stop Loss: Below EMA 50 at 2.2020.
Take Profit Targets:
First target: 2.2200 (recent high).
Second target: 2.2250 (strong resistance zone).
Third target: 2.2300 (psychological level).
📉 Short (Sell) Setup
Entry Criteria
If price reaches 2.2200-2.2250 and fails to break higher.
RSI remains above 70 and forms a bearish divergence.
A bearish engulfing candle or rejection wick appears at resistance.
Trade Execution
Sell Limit Order: Around 2.2200-2.2250 (resistance).
Stop Loss: Above 2.2275 (above previous high).
Take Profit Targets:
First target: 2.2100 (EMA 21 support).
Second target: 2.2045 (EMA 50 support).
Third target: 2.2000 (psychological level).
📌 Key Trading Levels
2.2300 Resistance Psychological Level
2.2250 Resistance Major Supply Zone
2.2200 Resistance Recent High
2.2100 Support EMA 21 Support Level
2.2045 Support EMA 50 Strong Support
2.2000 Support Psychological Support
📊 Summary & Trading Plan
📈 Bullish Bias: Buy on dips at EMA 21 or EMA 50, targeting 2.2200+.
⚠ Overbought Condition: RSI suggests a short-term pullback before another bullish leg.
📉 Short Setup: Look for rejection at 2.2200-2.2250 for a short trade targeting 2.2100-2.2045.
🔍 Confirm price action & volume before taking trades.
leave your comments boys!!!
✅ Bullish Trend Confirmation
Price is above EMA 200 → Strong uptrend.
EMA 5 > EMA 21 > EMA 50 > EMA 200 → Short-term and mid-term momentum are aligned for upside movement.
RSI at 71.73 → Overbought conditions, a pullback may occur before further upside.
⚠ Potential Reversal Signs
RSI is over 70, which suggests potential exhaustion in buying momentum.
If the price starts closing below EMA 5 or EMA 21, a retracement may begin.
📈 Long (Buy) Setup
Entry Criteria
Wait for a pullback to the EMA 21 (2.2095) or EMA 50 (2.2047).
Look for a bullish engulfing pattern, pin bar, or rejection wick.
Ensure RSI remains above 50 to confirm bullish momentum.
Trade Execution
Buy Limit Order: Around 2.2095 - 2.2050 (pullback zones).
Stop Loss: Below EMA 50 at 2.2020.
Take Profit Targets:
First target: 2.2200 (recent high).
Second target: 2.2250 (strong resistance zone).
Third target: 2.2300 (psychological level).
📉 Short (Sell) Setup
Entry Criteria
If price reaches 2.2200-2.2250 and fails to break higher.
RSI remains above 70 and forms a bearish divergence.
A bearish engulfing candle or rejection wick appears at resistance.
Trade Execution
Sell Limit Order: Around 2.2200-2.2250 (resistance).
Stop Loss: Above 2.2275 (above previous high).
Take Profit Targets:
First target: 2.2100 (EMA 21 support).
Second target: 2.2045 (EMA 50 support).
Third target: 2.2000 (psychological level).
📌 Key Trading Levels
2.2300 Resistance Psychological Level
2.2250 Resistance Major Supply Zone
2.2200 Resistance Recent High
2.2100 Support EMA 21 Support Level
2.2045 Support EMA 50 Strong Support
2.2000 Support Psychological Support
📊 Summary & Trading Plan
📈 Bullish Bias: Buy on dips at EMA 21 or EMA 50, targeting 2.2200+.
⚠ Overbought Condition: RSI suggests a short-term pullback before another bullish leg.
📉 Short Setup: Look for rejection at 2.2200-2.2250 for a short trade targeting 2.2100-2.2045.
🔍 Confirm price action & volume before taking trades.
leave your comments boys!!!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.