Gbpnzdidea
Two possible scenarios for GBPNZD next week.. On screen analysisWe are in the middle of a pandemic right now with everything that is going on with the Corona virus. It seems to me that Australia and New Sealand were hit hard economically and will be in the next few weeks. My eyes will be on a long trade to the same level of the spike on March 8 which is a Monthly support and resistance level @2.17
On the other hand there could be a big change of events which could lead to a decline in value of the British Pound. Therefor we will first see a clear break of the recent Up trend and probably support turning in to resistance @2.02. When this happens my target will be 1.94 in a short trade.
Trade with care and caution! I will keep you posted on this one.
MAJOR REJECTION ( Head and Shoulders) | GBPNZDAs our overall analysis on the Daily is a Head and Shoulders, thus the market is rejection the Major Resistance meaning a loss of momentum for buyers
- We look for retraces to Sell and go long as it made a minor Head and Shoulders on 1HR
- Patience as we wait for the drop
#GBPNZD, Signal with a monstrous targetThe GBPNZD is after the Double top effect and is back on the rise.
The GBPNZD over 2 important average lines (100,200)
The candles are placed over the Ichimoku cloud that accompanies the GBPNZD with a green cloud!
The Stochastic in the ideal area that recommends buying.
All these technical data indicate continued increases.
Target: 2.0370
GBPNZD Possible Long OpportunityWe had a strong rejection off the 61.8 on the daily. Price has been moving correctively for a while on daily creating a giant flag. We expect price to possibly move back to the top of this flag if it doesn't keep breaking down. If price breaks out of this flag, take it to the -61.8 fib extension long term for we expect GBP pairs to be bullish in 2020. Trade with care :)
#GBPNZD, Elections approach!The GBPNZD is above the 200 moving average line which is a bullish sign.
The Ichimoku cloud continues to be bullish on the pound.
The recent declines were due to the pound's encounter with resistance at 2.03, but you can see very quickly the ups were coming back to the picture.
Target: 2.09