GBPNZD Possible paths for the priceMain items we can see on the chart:
a) The price is currently on a resistance zone
b) Based on past behavior if the price is not able to break the level we should see a bearish movement towards the next support zone
c) If the price is able to break the resistance zone, we should expect a bullish movement towards the next one
d) However, if you are interested in trading this situation we would wait first for a clear correction either for the bullish or bearish scenario
Gbp-nzd
GBPNZD Long Setup & AnalysisYellow zone - critical supply/demand area based on the weekly timeframe
Red zone - critical/supply demand area based on the daily timeframe
According to the latest GBP COT Report we can see that the Sterling is starting to show a strong momentum in favour for the long contract sizes. If this continues, we can see a possible attempt for the GBP/NZD to reach the 2.20000. The New Zealand Dollar on the other hand doesn’t show us dominance for either long or short contract sizes based on the COT Reports from the beginning of June.
For me there is one possible scenario:
1.From a monthly perspective we are far away from the equilibrium zone and the first step in getting close to it is a possible close over the monthly dotted trendline near 2.20000.
Price will be drawn to that level due to the fact that it is a major supply area. It is a quadruple confirmation point which aligns perfectly with the monthly dotted trendline, a monthly critical supply zone, the weekly upper trendline and with the golden 0.618 Fibonacci level.
Before that, we will see a few corrections that can be used as entry points for our trades.
Happy trading!
GBPNZD Retesting the trendline and now is dropping This is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Let’s make some money together!
Don't miss the great buy opportunity in GBPNZDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.929). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPNZD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 1.9380
TP2= @ 1.9510
TP3= @ 1.9635
TP4= @ 1.9745
TP5= @ 1.9885
SL= Break below S2
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Don't miss the great buy opportunity in GBPNZDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.929). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPNZD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 1.9380
TP2= @ 1.9510
TP3= @ 1.9635
TP4= @ 1.9745
TP5= @ 1.9885
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Don't miss the great buy opportunity in GBPNZDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.9115). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPNZD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 41.
Take Profits:
TP1= @ 1.9300
TP2= @ 0.6957
TP3= @ 0.6937
TP4= @ 0.6905
TP5= @ 0.6875
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Don't miss the great buy opportunity in GBPNZDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.9115). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPNZD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 41.
Take Profits:
TP1= @ 1.9300
TP2= @ 0.6957
TP3= @ 0.6937
TP4= @ 0.6905
TP5= @ 0.6875
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
GBPNZD ANALYSISGBPNZD rebounded with bullish movement from demand zone at level 1.9020 after forming false breakout
RSI reached oversold region
It's expected for coming strong bullish wave to first target key level at 1.9290
then rebounded to retest HVN at level 1.9188
then finally target supply zone at level 1.9425
GBPNZD Trading Into A Temporary Setback?Hello traders!
GBPNZD is still slow here at the lows, but based on intraday view, seems like price is still looking for a bigger corrective recovery in wave 4 which can retest the 1.9450 – 1.9650 resistance area before we may see a continuation to the downside within a wave 5.
Trade well!
GBPNZD - SWING - 15. JULY. 2020Welcome to our weekly trade setup ( GBPNZD )!
-
1 HOUR
Very bearish break below main sr level.
4 HOUR
Expecting more bearish pressure!
DAILY
Good short entries following volatility pressure.
-
FOREX SWING
SELL GBPNZD
ENTRY LEVEL @ 1.91630
SL @ 1.92370
TP @ 1.90470
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN