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British Pound / New Zealand Dollar

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GBPNZD trade ideas

GBP/NZD Analysis - 10th August 2024 for upcoming weekThe GBP/NZD chart shows a potential bullish reversal setup forming after a period of downward movement. Let's break down the key points: Overall Context: The broader trend appears to be bearish, as indicated by the descending highs and lows. However, the price action seems to be consolidating near a potential support zone, hinting at a possible reversal. The presence of the Volume Rate of Volume Profile (VRVP) indicator adds another layer of analysis to identify potential support and resistance areas based on trading volume. Key Observations: Support Zone: The price has found support around the 2.09000 level, coinciding with a high-volume node on the VRVP, suggesting strong buying interest in this area. Bullish Candle Formation: A bullish engulfing candlestick pattern has formed on the daily timeframe, indicating a potential shift in sentiment from bearish to bullish. VRVP Insights: The VRVP shows decreasing volume as the price moved lower, which could suggest weakening selling pressure. Additionally, the current price is near the Value Area Low (VAL), which often acts as a support level. Entry Reasons: Bullish Engulfing Pattern: The formation of the bullish engulfing pattern signals a potential reversal. Traders might consider entering a long position on the confirmation of this pattern, such as a break above the high of the engulfing candle. Support Zone & VRVP Confluence: The confluence of the 2.09000 support level and the high-volume node on the VRVP strengthens the case for a potential reversal. Traders might consider entering a long position near this support zone, anticipating a bounce.
Long
by a5h2503
GBP/NZD: Key Levels to Watch as Bullish Momentum Slows✨ Welcome to my channel. Here, we analyze a new crypto project or Forex pair every day. 📅 Let's dive into today's analysis, focusing on the GBP/NZD Forex pair. 🗂 About the Project: The GBP/NZD pair represents the exchange rate between the British Pound and the New Zealand Dollar. This currency pair is often traded in the Forex market and can be influenced by various factors such as economic data, interest rates, and geopolitical events in both the UK and New Zealand. 📊 Weekly Timeframe Analysis: In the weekly timeframe, GBP/NZD has shown strong bullish momentum, reaching a resistance zone around 2.1860. The pair is currently retracing from this level, indicating potential profit-taking or a short-term correction. Key resistance levels are at 2.1860 and 2.2635, while support is seen around 2.0800 and 2.0329. 📈 If GBP/NZD manages to stabilize above 2.0800, we might see another attempt to break the resistance at 2.1860, which could lead to a push towards 2.2635. However, a failure to hold above 2.0329 might indicate a deeper correction, with the next support around 2.0084. 📊 Daily Timeframe Analysis: On the daily chart, the pair has encountered resistance at 2.1888 and is currently consolidating just above the 2.1160 support level. The recent price action suggests a potential bearish divergence, and a break below 2.1160 could see the price testing lower levels like 2.0626 and 2.0084. 🧲 If the price stabilizes above 2.1160, there is a chance for a bullish reversal targeting the resistance at 2.1888. However, a continuation of the downtrend could take the price towards the 2.0626 support. 📊 4-Hour Timeframe Analysis: On the 4-hour chart, GBP/NZD has completed a Fibonacci retracement to the 61.8% level around 2.1248. The pair is showing signs of consolidation, with RSI around 48.69, indicating neither overbought nor oversold conditions. A move above 2.1366 could trigger further gains towards 2.1888, while a drop below 2.1116 could see the pair revisiting the 2.0626 level. 📉 RSI Oscillator: The RSI is relatively neutral in the 4-hour timeframe, hovering around 48.69, and slightly bearish on the daily timeframe at 46.58. On the weekly chart, the RSI is still above 50, suggesting that the overall trend remains bullish, but with a potential slowdown. ⚠️ Conclusion: Given the mixed signals across different timeframes, it's important to watch key levels such as 2.1160 for support and 2.1888 for resistance. The RSI is not providing clear signals, so price action around these levels will be crucial in determining the next direction. ⚠️ Please note that this is not financial advice. I'm simply introducing this project to you, and remember always to do your own research. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a Forex pair you'd like me to analyze next.
by itsparham96
1
Buy Analysis Currency Pair: GBPNZD (British Pound / New Zealand Dollar) Entry Price: 2.119224 Take Profit 1: 2.13373 Take Profit 2: 2.18980 Stop Loss: 2.10724 Technical Analysis Current Market Conditions: Trend Analysis: Assess the current trend on the daily and hourly charts. Look for higher highs and higher lows to confirm an uptrend. If the overall trend is bullish, this supports the buy position. Support and Resistance: Identify key support and resistance levels. Ensure that the entry price is positioned favorably relative to these levels. Technical Indicators: Moving Averages: Check for alignment with the moving averages (e.g., 50-day and 200-day MAs). A bullish crossover can be a positive signal. Relative Strength Index (RSI): Monitor the RSI to ensure the currency pair is not overbought or oversold. An RSI level around 50 is generally neutral. MACD: Confirm if the MACD line is above the signal line, indicating bullish momentum. Risk-Reward Ratio: Take Profit 1: Target price of 2.13373 offers a potential gain of 145 pips from the entry price (2.119224). Take Profit 2: Target price of 2.18980 offers a potential gain of 706 pips from the entry price. Stop Loss: The stop loss at 2.10724 offers a risk of 119 pips. Risk-Reward Calculations: To Take Profit 1: Risk/Reward Ratio = (145 pips gain) / (119 pips risk) ≈ 1.22 To Take Profit 2: Risk/Reward Ratio = (706 pips gain) / (119 pips risk) ≈ 5.94 The risk/reward ratio to the first target is acceptable but modest. To the second target, the ratio is very favorable, indicating a potentially profitable trade if the price moves favorably. Trade Management: Partial Exits: Consider taking partial profits at Take Profit 1 to lock in gains and move the stop loss to break even or above the entry price. Adjusting Stop Loss: As the price moves towards Take Profit 2, adjust the stop loss to protect gains. Market Sentiment: Economic Indicators: Review upcoming economic data releases for both GBP and NZD. High-impact news can affect volatility and influence the direction of the currency pair. Geopolitical Events: Be aware of any geopolitical events or market news that could impact the GBP/NZD exchange rate. Conclusion Trade Viability: The trade setup shows a favorable risk/reward ratio to Take Profit 2, indicating potential profitability. Execution: Ensure proper trade execution and monitoring of the position. Adjust risk management strategies as the trade progresses.
Long
by GODOCM
Potential bullish rise?GBP/NZD has reversed off the support level which is a pullback support that is slightly below the 38.2% Fibonacci retracement and could rise to ur take profit. Entry: 2.1347 Why we like it: There is a pullback support level which is slightly below the 38.2% Fibonacci retracement. Stop loss: 2.1220 Why we like it: A pullback support level lines up with the 50% Fibonacci retracement. Take profit: 2.1711 Why we like it: A pullback resistance level aligns with the 61.8% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
GBPNZD conscious LONGAfter market formed inverse head and shoulder on weekly and daily then broke it, market as been breaking structure to the upside which solidifies the uptrend move. market is pulling back into an SnR zone in confluence with fib 50% level and trendline touch. Market can break through this level which will open up the next SnR zone, this will mean market wants to give a proper retest on the inverse head and shoulder that was broken. WAIT FOR A BULLISH CANDLESTICK PARTTERN BEFORE GOING LONG
Long
by Bello-swings
GBPNZD Weekly Analysis and OutlookGBPNZD Weekly Analysis and Outlook This week, the GBPNZD pair has shown a pronounced downward trajectory, closing in a bearish continuation phase. This downward momentum indicates a negative sentiment among traders, suggesting further potential for a decline. Current Market Overview: The pair has been steadily moving downwards, supported by unfavorable market conditions and bearish sentiment. As it approaches a key support zone, traders should closely monitor the price action. A successful break below this support would likely confirm the continuation of the bearish trend. Expectations and Potential Scenarios: Upon breaking the support zone, we anticipate that the GBPNZD will continue its downward momentum. This breakout could open the door to lower levels, offering traders potential opportunities to capitalize on the bearish trend. Primary Expectation: If the support is broken, the price is likely to sustain its downward movement, potentially targeting lower support levels. This scenario would reinforce the bearish outlook, making it a favorable environment for short positions. Alternative Scenario: However, if the price encounters strong support and fails to break through, a temporary pullback could occur. Traders should be prepared for this scenario, as it might provide opportunities to reassess entry points at higher levels before resuming the downward trend. Conclusion: In summary, the GBPNZD pair is poised for further downward movement following its recent bearish phase. Traders should watch for a decisive break below the support zone, which could serve as a catalyst for continued declines. Maintaining awareness of both bearish and corrective scenarios will be crucial for effective trading strategies. Stay updated with market developments and adjust your positions accordingly. By Piptera Digital Solutions, Invest Wisely!
Short
by Piptera-Digital-Solutions
GBPNZD Sellers In Panic! BUY! My dear friends, Please, find my technical outlook for GBPNZD below: The instrument tests an important psychological level 2.1461. Bias - Bullish Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 2.1629 About Used Indicators: Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
2