Long term trend - Short Nature - Corrective phase Pattern - Descending channel Stoploss - 30 pips Risk: Reward - 1:2 Descending channel is highly suggestive of a reversal in trend to Long.
Everything is indicating the beginning of a bull market. What invalidates this analysis is if the support marked in a rectangle is broken, but I do not believe in the possibility.
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.91400). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPNZD is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.9315). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPNZD is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic...
GBPNZD looking good to short
Good Short pattern in GBPNZD