GBPNZD: strong support on weekly chart
Traders,
First of all, this is not a trading signal , but analysis on weekly chart.
GBPNZD definitely has a strong support on wkly chart now,
also you can see a potential CYPHER on this chart.
According to this CYPHER, GBPNZD has a possibility to drop
down to 1.6865 after 4 months later.
However, we dont usually hold a trade that long.
Most of us
are individual traders not institutions.
So we would only choose some sure and safe trades
that satisfy our strategy to join.
Based on this chart, we would expect GBPNZD still going to rise in small range on wkly chart, but on daily chart, thats 400 plus pips.
Less is more!
First of all, this is not a trading signal , but analysis on weekly chart.
GBPNZD definitely has a strong support on wkly chart now,
also you can see a potential CYPHER on this chart.
According to this CYPHER, GBPNZD has a possibility to drop
down to 1.6865 after 4 months later.
However, we dont usually hold a trade that long.
Most of us
are individual traders not institutions.
So we would only choose some sure and safe trades
that satisfy our strategy to join.
Based on this chart, we would expect GBPNZD still going to rise in small range on wkly chart, but on daily chart, thats 400 plus pips.
Less is more!
Comment:
support is valid.
