GBPNZD 3/9/23Another move giving us a bias due to news, now of course we are already looking at this with a sell side in mind now we have a range we are looking to get a tap in to follow said direction.
We have a refined 3 min POI for this swing so as we said about USDJPY we are going to follow but with a more refined and less exposed entry method.
high levels of liquid have been built on both sides of the market including above structure which will give price a nice reason to push back to our entry zone.
Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
Gbp-nzd
GBPNZD Starting to turn into a buy again.The GBPNZD pair has been trading within a Channel Up pattern since the start of the year and 10 days ago started its technical correction after the new Higher High. The price hit the middle of the pattern and as the 1D RSI touched its Higher Lows trend-line, the conditions for the new buy emerge again. We are placing the first buy of this sequence now and if the price drops more we will enter a second (and final) on the 1D MA50 (blue trend-line) potentially at 2.1000. For both positions, the target is 2.18000.
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GBPNZD - Looking For Sell Setups ↘️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
GBPNZD has been overall bullish trading inside the rising channel in orange, however it is currently approaching around the upper trendline.
Moreover, the zone 2.16 is a strong resistance.
🏹 So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper orange trendline acting as a non-horizontal resistance.
As per my trading style:
As GBPNZD approaches the orange circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
GBP/NZD possible dropHello Traders
Our technical view has been shown in the chart.
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GBPNZD: Bullish Breakout? Key News Impacts!Greetings Traders!
GBPNZD is poised at a critical juncture, with NZD's "Employment Change" and "Unemployment Rate" news on the horizon. Awaiting the news' outcome could be strategic before we commit. If we see a negative impact, there could be a prime opportunity to go long.
Yet, on the flip side, positive news may trigger a steep decline, threatening to hit stop-loss levels.
Recent events favor the bulls - a rectangle break hints at an extension of the bull run, and the market momentum broadly resonates with bullish sentiments.
However, let's remember that GBPNZD is currently experiencing heightened volatility. Therefore, I urge you to manage your risk, await the news, and then carefully consider entering this trade.
GBPNZD: Supported on the 1D MA50. Trade these levels.GBPNZD has turned sideways basically for a whole month (since June 28th) as it is restrained under R1 (2.092225) while being supported by the 1D MA50. This has turned the 1D timeframe neutral (RSI = 53.387, MACD = 0.005, ADX = 22.546), which is an expected technical outcome.
We will trade this setup on a breakout basis. A crossing over R1 is a buy signal targeting an aproximate +4.95% rise (TP = 2.15000). A crossing under the 1D MA100 and naturally the HL of the Rising Megaphone, is a sell signal targeting S1 and the 1D MA200 (TP = 1.98500).
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🔥 NEW: GBPNZD 🔥 COUNTERTREND 🔥⚠️ A countertrend trade is a trade that is made against the prevailing trend. This means that the trader is betting that the trend will reverse and that the price will move in the opposite direction of the trend identified by P2P INDi Curve Analysis. countertrend trading can be a very profitable strategy, but it is also more risky than trend following.
-SL @ 2.0930 🚫
SLO @ 2.0845 ⏳
SSO @ 2.0725 ⏳
TP1 @ 2.0525 (shaving 25%)
TP2 @ 2.0350 (shaving 25%)
TP3 @ 2.0215 (shaving 25%)
TP4 @ 2.0000 (closing ALL Sell Orders)
Let's try this AGAIN, now that momentum is indicating price action is in overbought territory. That's great news for shorting this pair.
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GBPNZD Buy on the bottom of the Channel Up, sell under it.GBPNZD is trading inside a Channel Up since the February 3rd Low.
The last Higher Low was priced under the 1day MA50. Our current buy zone is between the 1day MA50 and Support A.
Buy as long as this holds and target 2.091500 (Resistance A).
A closing under the Channel Up and more specifically the 1day MA200, is a sell signal, so in that case take the buy's loss and short. Target the 1day MA200 just over Support B at 1.98000.
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GBPNZD: Trend-Following Trading Setup
GBPNZD formed a classic cup & handle formation.
The market is trading in a long-term bullish trend.
The neckline of the pattern is the only obstacle for the buyers now.
Its breakout will initiate a trend-following movement to new highs.
Daily candle close above 2.075 will confirm the violation.
A bullish continuation will be expected then to 2.085
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GBPNZD expected a strong pullbackGBPNZD is having a bounce off the downtrend trendline for the second time. This is the price action we've been waiting for. Unless a new higher high is printed, we expect a relatively strong pullback, to test the long-term downtrend trendline and 61.8% Fibonacci support.
GBPNZD: Sell signal targeting 2.0200.GBPNZD reached the top of the 5 month Rising Megaphone and straight after the 1D RSI turned overbought (RSI = 57.238, MACD = 0.009, ADX = 19.804), the price got rejected on a HH. As you can see, the same overbought level caused the April 26th rejection on the HH line. Our target is the HL trendline (TP = 2.0200).
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GBPNZD to find sellers at market?GBPNZD - 24h expiry
Previous support located at 2.0400.
Previous resistance located at 2.0450.
Price continues to trade within the triangle formation.
A move through 2.0375 will confirm the bearish momentum.
The formation has a measured move target of 2.0100.
We look to Sell a break of 2.0390 (stop at 2.0460)
Our profit targets will be 2.0220 and 2.0180
Resistance: 2.0450 / 2.0500 / 2.0550
Support: 2.0400 / 2.0375 / 2.0100
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GBPNZD Potential UpsidesHey Traders, in tomorrow's trading session we are monitoring GBPNZD for a buying opportunity around 2.03700 zone, GBPNZD was trading in a downtrend and currently seems to be attempting to break it out. If we get rallies above the trend i will be monitoring a potential retrace of the trend towards more highs.
Trade safe, Joe.
GBPNZD - Strong Resistance 🦾Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
on WEEKLY: Left Chart
GBPNZD is sitting around a strong weekly resistance in green, so we will be looking for sell setups on lower timeframes.
on H4: Right Chart
GBPNZD has been overall bullish medium-term. However, it is diving inside the weekly resistance.
🏹 For the bears to take over, for a potential shift in momentum, we need a break below the last low in gray.
Meanwhile, GBPNZD can still trade higher inside the weekly resistance or even break it upward.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
🔥 NEW: GBPNZD 🔥 SWING TRADE 🔥-SL @ 2.0750 🚫
SLO @ 2.0560 ⏳
SSO @ 2.0190 ⏳
TP1 @ 1.9485 (shaving 25%)
TP2 @ 1.8875 (shaving 25%)
TP3 @ 1.8433 (shaving 25%)
TP4 @ 1.7751 (closing ALL Sell Orders)
SLO1 @ 1.7590 ⏳
SLO2 @ 1.7190 ⏳
-SL @ 1.7000 🚫
TECHNICAL ANALYSIS:
The price of GBPNZD is currently trading at ~2.0415. Overall, the technical analysis for GBPNZD is bearish. The price is trading below the moving averages, the RSI is below 50, and the MACD is crossing below the signal line. This analysis suggests that price action will likely continue to decline in the near term.
FUNDAMENTAL ANALYSIS:
As of May 26, 2023, the fundamental analysis for GBPNZD is strong — short term — and nearing a solid supply area @ 2.0560. On the one hand, the UK economy is improving, with GDP growth expected to reach 1.2% in 2023. This data supports the strong employment growth and rising wages. However, on the other hand, the UK's trade deficit is widening, and inflation is expected to remain high.
In New Zealand, the economy is also growing, and its GDP growth is expected to reach 2.5% in 2023, supported by solid dairy exports.
Overall, the fundamental outlook for GBPNZD is weakening. The UK economy shows signs of the widening trade deficit and inflation increasing. As a result, the pound's value is likely to remain under pressure, and the Kiwi dollar is expected to appreciate causing the GBPNZD to be short.
GBPNZD: Pullback From Key Level Explained 🇬🇧🇳🇿
GBPNZD reached a key horizontal structure support on Friday.
The price formed a tiny double bottom pattern, approaching that.
Its neckline was violated then and the pair is retesting that at the moment.
I suppose that the market may bounce from the underlined blue area.
Goals for buyers: 1.989 / 1.995
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GBPNZD: Rebound on the 1D MA50 bullish unless Megaphone breaks.GBPNZD is rebounding on the 1D MA50, at the bottom of the thee month Rising Megaphone pattern. That is a bullish signal, which is further empowered by the neutral 1D technicals (RSI = 53.906, MACD = 0.003, ADX = 31.776) and the fact that the 0.382 Fibonacci level is holding.
As long as the price trades inside the Megaphone, we will be long, targeting the 2.0 Fibonacci (TP = 2.09500). If it closes under the Megaphone, we will book the loss and sell in reverse, targeting the 0.618 Fibonacci retracement and 1D MA200 (TP = 1.94500).
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