GBPNZD Trade Idea 1608-2008
Updated
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
Note
Wait for buy confirmation with CS pattern, and stochastic confirmation for short term buy trade on Monday US session.However, break of structure with retest at AOV may leads to change of market structure till 1.9300 as a double top is seen from D1 TF.
RBNZ meeting may serves a catalyst on coming week for this pair with market mostly anticipation of rate hike from 0.25% till 0.50%. However, its cautious rate statement due to pandemic may result sell off in Kiwi.
Sentiment on GBP was slightly nett long; while NZD was nett short compared to last week according COT report.
Stop orders may be considered to trades with RBNZ rate statements.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
Disclaimer
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