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GBPNZD

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). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
2
GBP/NZD H1 BULLISH SETUP WITH A POIWe have a bullish setup on this pair with the price at 2.07. Currently, the price has started to rise following the release of Australian Bank's interest data. If the level of 2.0750 is breached, it would confirm this setup, which anticipates an entry at 2.0670, where we have a point of interest. Remember that the entry will be considered valid only if there is a re-test with the candle closing on the H1 timeframe above the Point of Control (POC). Otherwise, the position will be closed immediately. Let me know what you think. Happy trading to everyone from Nicola, the CEO of Forex48 Trading Academy.
Long
by Forex48_TradingAcademy
Revolt of the colonies - why NZD will triumph over GBPI am splitting the trade into 2 entries: One right here at the current market price and a sell limit order at the high of 2.09000. The balance of power between the former colony and its rulers will shift soon: GBP view: - UK inflation came in lower than expected today. This was also likely because. 1. many leading economic indicators were already hinting at this in advance 2. analysts have been wrong in their forecasts for UK CPI more often in the past. - UK inflation will fall more than the market currently expects in the coming months. -> Most (but not all) of the BOE's priced-in rate hikes will have to be priced out. - Core inflation will remain sticky for now, but will also fall more sharply from Q4 2023 onwards -> Instead of the lavishly priced-in rate hikes, the BOE will tend to cut rates from 2024 onwards -> This will weigh on the GBP - US PMIs were bad this week - UK retail sales came in higher (as I forecasted) than the market expected this week, so I can't rule out a pullback in GBP NZD View: - Inflation data from New Zealand came in higher than expected -> The RBNZ says it has ended its rate hike cycle, but it may be forced to raise rates again in October or November. -> This will ultimately be decided by the NZ jobs data at the beginning of August.
Short
by PrimeTrading
2
GBPNZD Will Go Higher From Support! Long! Here is our detailed technical review for GBPNZD. Time Frame: 1h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 2.086. Considering the today's price action, probabilities will be high to see a movement to 2.094. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
GBPNZD - A Breakout Of The Range?Analysis: Taking a look at the charts we can see that price looks slightly choppy and like we're stuck in a range, however a trade has setup that is in accordance to our plan so we're taking it. Although price is in a range we can see that price is still heading to the upside slightly. We also have an upwards trendline which confirms that we are actually in an upwards trend. This means that we're only looking for long positions. We had some news that came out for the GBP this morning which was slightly negative causing an overreaction and price pulled back to an area that we're interested in. Whilst this news was negative we don't see this news event as that important and we also have a lot of other confluences pointing to bullishness so we don't really care about this small thing going against our idea. Whilst the area that we have marked out might not seem like an obvious level, to us it looks like a great place to enter at. We've seen this level hold in the past so we expect that it could hold again making it a possible support level, however this isn't the main reason why we like this level. The driving factor for why we have this area that we marked out is because of the added confluences which are lining up with. Firstly we have the 50% fib retracement level which we expect buyers to be sat at wanting to push price higher meaning that this favours our bullish thesis. Another confluence that we have is the upwards trendline. When we've seen this trendline be touched before we've seen it be respected and price has then made a move to the upside. Trading is all about history and patterns as they repeat themselves, so if this has happened in the past then its likely that this will happen again giving us another reason to be bullish especially from this area. The final technical confluence we have is the candle that we saw on Friday. We saw strong bullish momentum and we were expecting this to continue this week however after the news came out, price dropped back to our area of interest. Like we've said already we think that this is an overreaction so we expect to see the bulls step in again and push price higher, going in favour of our bullish thesis. Fundamentally as well the GBP is the 2nd strongest major currency whereas the NZD is the 5th strongest major currency so this massively goes in favour of bullishness on this pair. Taking a look at the COT data as well we saw an increase of 18K short positions and an increase of 24K long positions on the GBP, which is bullish, again favouring the long side. For the NZD however this is the opposite. We saw a decrease of 100 long positions and an increase of 2K short positions, indicating possible bearishness for the NZD, which goes in favour of our overall bullish thesis. We have the fundamentals pointing to bullishness and we have a strong place to enter from which is why we are bullish on this pair and expect to see a continuation to the upside. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
14
🔥 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. WE ARE A COMMUNITY BOOST a trade idea to share with others and "pay it forward" FOLLOW to receive alerts of any new posted ideas COMMENT with questions, insight, and expertise JOIN our group chat: receive free analyses on any instrument
Short
by ProfessorCEWard
GBP/NZD POSSIBLE SETUP H1 - SHORT TRADERegarding GBPNZD, we have a bearish market with a very strong New Zealand dollar after negative data on AUD overnight. Currently, the market is retracing towards 2.0550, where we have a forex48 block, our personal strategy. In this area, it will be crucial to wait for a confirmation on the M15 chart before entering a short position with a target at 2.0495. Let me know what you think. Greetings from Nicola, the CEO of Forex48 Trading Academy.
Short
by Forex48_TradingAcademy
7
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. Follow us, like the idea and leave a comment below!!
by TheCryptagon