GBPNZD Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
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Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
GBPNZD trade ideas
GBP/NZD BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
GBP/NZD pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 12H timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 2.158 area.
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GBPNZD - Bullish Triangle Break + SetupHello traders
GBPNZD has been forming a triangle pattern since 13 January and has now broke bullishly out of it. While it was a descending triangle, the rsi had been forming a bullish divergence showing a sign of strength.
Add to this the fact that this setup is forming on a daily trendline making this a high probability setup to me.
This is the link to the daily chart
For me the entry would be to place a limit order slightly above the 0.5 fib level and a target of the largest range inside the triangle as marked on the chart.
GBPNZD: Bearish Continuation & Short Trade
GBPNZD
- Classic bearish pattern
- Our team expects retracement
SUGGESTED TRADE:
Swing Trade
Sell GBPNZD
Entry - 2.1991
Stop - 2.2074
Take - 2.1842
Our Risk - 1%
Start protection of your profits from lower levels
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GBPNZD Will Go Lower! Sell!
Please, check our technical outlook for GBPNZD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 2.192.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 2.165 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GBPNZD Bullish ReversalGBPNZD price seems to exhibit signs of Bullish Reversal on the lower timeframes as the price action forms a credible Higher High on key Fibonacci and Support levels.
Trade Plan :
Entry @ 2.19027
Stop Loss @ 2.1659
TP 1 @ 2.21458
TP 1 @ 2.23901
Move Stop Loss to Break Even if TP1 hits.
GBPNZD FORECASTGuys I really love how this pair is looking like from the higher timeframe, everything is looking good and what I love most is structures how they have been developing, giving us the clear message that this price is pointing more to the downside.
This pair is in my today's watch list and I look it with a close eye to see how the market will be developing.
GBP/NZD - Weekly OutlookThis is an extremely strong Analysis for not just a Long Term Point of view but also a short term scale, let me explain.
Monthly/Weekly markets are both bullish. We can notice that price has reacted 3 times off a strong Weekly Imbalance. Price that makes 3 touches is considered a strong zone so now I would suggest we would have a final pullback off this zone before creating a new MSS in smaller time frames. We have market out the 50% level on the Fib to show our Discount zones before looking for any entry models.
So far on the Daily/4H we can see a large Bullish move but.. we are not sure whether this Bullish leg has actually just finished nor just started so we will have to wait and assess this Bullish Price action and adjust our Fib as the market move to work out our pull back points.
I have set up a strong Demand zone which does happen to be at our OTE right now but again this may change due to the Bullish movement not currently showing any sights of a pullback.
We only enter trade will the highest possibility's and currently this market is showing extremely strong signs of possible trade entry's but we still need to work out what those entries are.
Good luck to the traders that want to follow this market and would be interested in my entry model in this Market
GBPNZD Technical buy opportunity below the 1D MA50.Last time we looked into the GBPNZD pair (October 02 2024, see chart below), we issued a clear buy signal at the bottom of the long-term Channel Up, that easily hit the 2.1900 Target:
Yet again, the price got rejected at the top of the Channel Up and pulled-back where it is consolidating below the 1D MA50 (blue trend-line). In the 12 months of this pattern, this has always been an excellent technical buy opportunity, with the minimum immediate rally being +4.15%.
As a result, we feel confident buying this pair and target 2.2550.
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