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Gbpnzdidea

GBPNZD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of GBPNZD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 42 - 13 Oct M > Market is moving in a rising channel. Price reached support of channel, also monthly support and faced rejection. W > Price has been moving up with rejection on both sides, it is now testing weekly resistance level. D > Price had created a W formation and as expected price dropped to test its neck before continuing with upward move. We can see an M formation and expect price to continue with its bullish move to test the neck and complete formation. However we can see supply zone on way to our target, this can pause price for a while. Hence we can focus towards 2 targets. As per COT GBP saw addition of Long and few Short positions improving net positions slightly but still in -ve, N-R saw closure of Long and addition of major Short, reducing cumulative net positions. Commercials saw closure of Long and Short, Short positions for them have reduced to least for current year. BXY improved for the said week and further enhanced its position last week. NZD had closure of few Long and major Short increasing net positions, confirming strength of ZXY for the said week. Short positions have reduced to least in current year. ZXY has been gaining strength slowly since June 2020. ZXY improved its position last week. 4H > Price has currently pulled back at 4H supply zone that also coincided with daily support. Pair Correlation: GBPNZD has positive correlation with GBPAUD and negative correlation with NZDCAD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Long
by AP17FX
GBPNZD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
GBPNZD H1. This Analysis Based On Price Action Theory.We Have an Analysis Of GBPNZD H1. This Analysis Based On Price Action Theory. According to Multiple Analysis, We Can See That the Market has a Bullish Direction but the market rejected the price from the resistance level Even those market bullish because the market also retests the trend line so on behalf of this we have a target (resistance) level @1.961470 & @1.969780 For More Confirmation, You can see that Bollinger Bands, Fib Retracement & Super Trend The all are reflected Market Bullish Pattern I Request to All Before The Trade You Also Match You're Analysis With As If You're Set up Match Then You Can Trade. Thanks Regard Enclavefx technical group
by Enclave_fx
1
GBPNZD is trading in a downtrend channelGBPNZD From August 25 this pair has started the downward journey in the channel. And the trend line is touched thrive and holding as the resistance for the bullish. After the price reached below the 61.8% Fibonacci retracement broadly it’s touched the 1.97000 psychological level and retested the support zone which is a Previous month’s low 1.97480. This level will act as the support for the bearish. The first target will be 1.95100 level. In Elliott wave analysis this pair is going to complete the major wave of 5. Stop lose may place above the minor wave of 02. On fundamental side the brexit headlines will makes this pair more volatile. And the reserve Bank of New Zealand has recently insisted that they don’t care about the foreign exchange rates. The number of COVID-19 cases are in declining phase this improve the overall economic condition of New Zealand Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas Disclaimer It’s not a financial advice. Do the analyze and take a decision.
Short
by forexorbit
GBPNZD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
3
GBPNZD long trade ideaPlan: wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
2
GBPNZD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
3