. There is a possibility of temporary retracement to resistance line (1.9635). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. GBPNZD is in a range bound and the beginning of downtrend is expected.
. Price is below WEMA21, if price rises more, this line can act as dynamic...
GBP NZD - Daily Chart - After seeing a good downtrend, looks like the pair is trying to reverse. Inverted H&S is still in process. Pattern will be confirmed only on breakout. But seeing at the Chart Structure, looks like it will. Patience is the key here. Now as pattern is identified, we will have to wait for breakout before initiating the long trade. Further,...
As we can see price has been in a very good and strong Downtrend for a while and then it started retracing, my bias and Technical Analysis says that the retracement is complete or it is about to be completed. but If retracement is completed then this time is good oppertunity to sell.
TRADE WITH PROPER STOP LOSS BASED ON THE MARKET STRUCTURE!!
Price has been in a very good downtrend but price can't go forever in a single direction it has to get the volatility to again proceed in the original direction.
I've been looking for a short term long in this pair and this might be the time for that buy..
I've been looking for short move since 2nd week of the September. As shown in chart price is showing sell sign by divergence On RSI and MACD both.
When price move forward in our forecasting direction then Move SL past the entry. If it's not the move down then we again look for the sell opportunities.
We'll be longing on this pair till next weekly resistance level as it has beautifully retested the Consolidation box. Looks Solid till next Resistance.
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The cross has been consolidating between 1.9190-1.9365 levels.
The level to watch in the cross is 1.9380 its 200EA (monthly), advance above that has potential to elevate as far as 1.9430-1.9460, 1.9500 and 1.9580.
From this analysis, GBP/NZD price is on Right shoulder of the current bearish trend.
It's expected if the candle closes below the 1.91812 price, there is a chance of bearish trend expected until price @ 1.89234