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British Pound / New Zealand Dollar

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GBPNZD trade ideas

GBPNZD1. Current Market Situation (Wave 3): The market is currently in Wave 3, which is usually the strongest and longest wave in Elliott Wave Theory. Wave 3 is known for its powerful upward movement. This is typically the wave where most traders and investors jump in, creating significant momentum. 2. Approaching the End of Wave 3: Right now, Wave 3 doesn’t seem fully complete, but it’s close to its end. You can identify this because: Momentum starts to slow down as the price nears resistance levels. Wave 3 often reaches Fibonacci extensions like 1.618 or 2.618, which are key indicators for its completion. 3. Retracement in Wave 4: After Wave 3 finishes, the price will likely pull back into Wave 4. This is a normal retracement where the market consolidates some of Wave 3’s gains. The retracement typically hits Fibonacci retracement levels of 0.382 or 0.5. Wave 4 is usually a smoother and less volatile wave compared to Wave 2. 4. Completion in Wave 5: Finally, Wave 5 is the last wave in the trend. This wave completes the overall upward movement. Wave 5 generally creates a new high, but it’s often less strong compared to Wave 3. Key Takeaways: Right now, the market is still in Wave 3 but close to finishing it. After that: Expect the price to pull back into Wave 4 at around Fibonacci 0.382 or 0.5 retracement levels. Wave 5 will follow, taking the price higher to finish the trend. Pro Tip: If you're trading, wait to confirm the end of Wave 3 and the start of Wave 4 before entering. Using tools like RSI or MACD can help you verify the momentum and trend shifts.
Long
by ProfissionalGoldHntryhunter
GBP/NZD 4H Timeframe AnalysisGBP/NZD 4H Timeframe Analysis Trend Analysis: On the 4-hour timeframe, the GBP/NZD pair remains in an uptrend, forming a series of higher highs and higher lows. Price recently bounced from a major support level, allowing buyers to regain momentum and push the price higher. The pair broke through a minor key resistance zone at 2.19900–2.21600, continuing its bullish move toward the next minor resistance at 2.24200. However, a doji candlestick formed below this level, signaling indecision, and was followed by a bearish candle, prompting a reversal back to the minor support zone. Price is now consolidating and accumulating buyer orders above this minor key support. We anticipate a continuation of the bullish trend but remain cautious of a potential break below this level, which could trigger stop-loss liquidations before a renewed upward move. Price Action Expectation: Our objective is to wait for additional liquidity to build within the liquidity zone. Once confirmed, we will watch for a bullish breakout above the trendline. Entry Plan: Place a buy stop order at 2.22050 to confirm entry upon a bullish breakout. Stop Loss: Set at 2.21170, below the liquidity grab area for effective risk management. Take Profit: Target the recent resistance at 2.24200, providing a 1:2 risk-to-reward ratio. Key Levels to Monitor: Support Zone: 2.19900–2.21600 Resistance Zone: 2.24200 Additional Considerations: Watch for price accumulation and liquidity grabs within the support zone. Monitor candlestick patterns and price behavior near the trendline for breakout confirmation. Conclusion: GBP/NZD shows bullish potential as price consolidates above the minor support zone. A breakout above 2.22050 would confirm the continuation of the uptrend, targeting 2.24200 for a compelling 1:2 risk-to-reward ratio. However, stay vigilant for a potential break below the support zone to account for possible stop-loss liquidations before a renewed upward move.
Long
by RebornFXTrader
Sell GBP/NZD Triangle PatternThe GBP/NZD pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the downside in the coming hours. Possible Short Trade: Entry: Consider Entering A Short Position Below the Broken Trendline Of The Triangle After Confirmation. Target Levels: 1st Support – 2.1983 2nd Support – 2.1860 Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_TA_TRADING
1
GBPNZD Will Go Lower! Sell! Here is our detailed technical review for GBPNZD. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 2.218. Considering the today's price action, probabilities will be high to see a movement to 2.208. 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!
Short
by SignalProvider
1