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Gbpnzdforecast

GBPNZD(GN) create bullish senario!Hello Traders, Scalpers & Investors! GBPNZD(GN)  cross pair currently create hidden bullish divergence with over sold pattern. Now I expecting a rebound to retest 1.996xx resistance zone! Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Long
by mahfuzazim_TA
GBPNZD SHORTBy looking at the price action, its easy to see that the pair has been moving in a bullish direction for several days, since early November 2021 to be exact. Current price action shows an indication of potential market exhaust which could result in a bearish short term correction. Looking at the daily chart we see 3 potential confluences/reasons which is in line with our directional basis on the pair. A Double Top pattern formation, followed by a trendline breakout and key level breakout which signals a change in market structure from bullish to bearish. We will be looking to enter on the rest of this key level and expect price to spike up sharply before a continuing to the downside. Risk Reward of this particular trade currently stands at 8.76:1.
Short
by NDOBObanks
GBPNZD | Perspective for the new weekThe GBPNZD pair seems to be on the edge of a cliff and it appears to be on the verge of tumbling down into 50 to 78.6% retracement in anticipation of a bullish trend continuation. How do we take advantage of this counter-trend opportunity without getting our fingers burnt? Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Top) Observation: i. Since November 2021, the Pound recorded approximately 9% growth against the Kiwi to set the tone for bullish momentum. ii. The visual representation of a line drawn under pivot lows reveals the prevailing direction and speed of price action in the last 3 months. iii. However, multiple rejections of N$2.05 since January 28th signals the possibility of price action transposing into a correction phase that might dip into 50 to 78.6% retracement before the rally continues. iv. The multiple rejections at N$2.05 evolves into a double top look-alike which is an extremely bearish technical reversal pattern that forms after action tests a new high two consecutive times with a moderate decline between the two highs with confirmation of structure at a break below a support level at N$2.025. iv. Coupled with the reversal pattern, we also witnessed a breakdown of the bullish trendline during last week trading session to give credibility to my bearish bias. v. In this regard, below the key level at $N2.025 remains a comfortable area to take on a short position as I strongly anticipate a breakdown/retest of this level in the coming week(s)... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 500 pips. Risk/Reward : 1:4 Potential Duration: 7 to 20 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
Watch for Short entryKeep a look out for potential Short entry on GBPNZD, looking for a break below this short multi-week trend Key levels are as follows : *2.0119 - 2.0152 - resistance zone *1.9943 - previous higher lows, potential bouncing point for start of consolidation below trend or a reversal point back into trend Observations for Bearish sentiment : 1 - Oscillators showing bearish divergence on starting from 30m to 4H. 2 - For now it looks like it is not ready to test the trend support, oscillators showing a reversal from oversold if that's your thing. 3 - Price action looks exhaustive and unable to continue above resistance zone, will see if this short term upside move (point 2) will break that Trade plan : 1 - For now look out for formation of consolidation below trend , NO ENTRY FOR NOW Will update accordingly * price levels might differ based on the broker you are using, however the underlying principle is the same. If the target is the previous price high point, do adapt that level based on what you see on your broker's chart
by ng4312