GBPNZD LONG

Monthly


Monthly PA is overall bullish, with last months candle continuation of bullish PA coming off morning star set up. I expect this months candle to continue bullish and likely fill out previous wick.
All EMA's are bullish and acting as dynamic support.

Weekly


Weekly PA has printed quite a large doji candle, Showing some indecision which is expected as GBP across the board did weaken through the middle of last week. However from following this PA since last Monday I would classify this as a healthy weekly pull back for price to go higher. This is demonstrated in strong move higher which broke out of weekly resistance key level (Large grey box AOI) and since staying above, following this bullish push to upside and recent pullback into the AOI price has failed to close below it making this previous resistance level now a level of support along with 50 EMA dynamic Support. Closer look on 2 charts below


Weekly chart


Daily chart


Daily


Daily PA is very similar to weekly description. Strong Bullish run up through the month of October up into level of around 2.1555 where we found some resistance for at least 2 trading weeks, this resistance ended with a very strong bullish candle going on to make HH & HL etc. Price found extra support for continuation of Bullish P.A at AOI shown with blue arrow which again turn from Resistance to Support. Also this AOI of interest has proved itself to be significant as pull back into it was also acting as support before broken. I now anticipate price will stay above this AOI bearish LH LL current PA. Price Currently sitting just above all EMA's PA above will be further confluence.


4hr chart for closer look


4hr


Currently in trade long anticipating continuation to upside especially anywhere above Areas of Interest and two strong bullish engulfing candles at the bottom of bearish move.

https://www.tradingview.com/x/E1fw55zt/ GBPNZD