GBPNZD: Bullish Forecast & Bullish Scenario
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the GBPNZD pair which is likely to be pushed up by the bulls so we will buy!
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GBPNZD
Sell GBPNZD Triangle Breakout The GBP/NZD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a triangle pattern.
Key Points:
Sell Entry: Consider entering a short position (selling) below the broken support level of the triangle, ideally around 2.1100. This offers an entry point close to the perceived shift in momentum.
Target Levels: Initial bearish targets lie at the following levels:
2.1011: This represents the height of the triangle, measured from the apex (highest or lowest point) to the base (opposite trendline), projected downwards from the breakout point.
2.0970: This is a further extension of the downside target, based on the height of the recent price movement before the breakout. These targets act as potential support zones that could see selling pressure.
Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line (depending on the triangle type) of the triangle, ideally around 2.1150. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you
GBPNZD Will Go Up! Buy!
Please, check our technical outlook for GBPNZD.
Time Frame: 8h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 2.105.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2.116 level soon.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GBPNZD has a strong upside momentum, could it rise further?Price is falling towards an overlap support and could bounce from this level to our take profit
Entry: 2.10607
Why we like it:
There is an overlap support level which aligns with the 23.6% Fibonacci retracement
Stop loss: 2.09344
Why we like it:
There is an overlap support level
Take profit: 2.12203
Why we like it:
There is an alignment with the 78.6% Fibonacci projection
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GBP-NZD Will Keep Growing! Buy!
Hello,Traders!
GBP-NZD is trading in an
Uptrend along the rising
Support line and we are
Seeing a bullish rebound
From the support cluster
Of the rising and horizontal
Support lines around 2.1047
So we are bullish biased
And we will be expecting
A further move up
Buy!
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Check out other forecasts below too!
GBPNZD Technical Analysis! SELL!
My dear subscribers,
GBPNZD looks like it will make a good move, and here are the details:
The market is trading on 2.1115 pivot level.
Bias - Bearish
My Stop Loss - 2.1179
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 2.1011
About Used Indicators:
The average true range ATR plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
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WISH YOU ALL LUCK
GBP/NZD BEARS ARE STRONG HERE|SHORT
Hello,Friends!
GBP/NZD pair is in the uptrend because previous week’s candle is green, while the price is obviously rising on the 1D timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2.079 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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GBPNZD Will Go Higher! Long!
Take a look at our analysis for GBPNZD.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 2.109.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 2.115 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
✅GBP_NZD TIME TO BUY|LONG🚀
✅GBP_NZD is trading in
An uptrend and the pair
Made a retest and a rebound
From the support cluster
Of the horizontal and rising
Support lines of 2.107
Which reinforces our
Bullish bias and makes
Us expect a further move up
LONG🚀
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GbpNzd a pullback for long?Tradingview Ideas:
Hello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Watch out for the pair to go long, extended pair, but structurally still for me to go on long unless something changes
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The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
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GBPNZD The Target Is DOWN! SELL!
My dear subscribers,
This is my opinion on the GBPNZD next move:
The instrument tests an important psychological level 2.1112
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 2.0940
My Stop Loss - 2. 1200
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
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WISH YOU ALL LUCK
GBP/NZD SHORT from 2.1149I'm SHORT GBP/NZD from 2.1149 for the following reasons:
a). R.S.I. is now reading 68 and was over 70 for the last 4 candles (76 last candle). This would indicate that SELLERS are taking the price under overbought.
b). The high (2.1173) sits a band of resistance between WR1 and WR2 weekly pivot. Last week this area (2.1042 to 2.1084) saw SELLERS enter the market and drive the price lower.
c). Although the Pivot Point SuperTrend remains green (BULLISH) we have seen 5 red SELL dots over the last 5 hours.
d). Andean Oscillator shows that the green BUY line is weakening and is about to cross south over the yellow signal line.
e). the RED SELL line has moved away from zero and is rising.
This is a moderately high risk trade as we have no confirmation on MACD and the Andean Oscillator hasn't crossed but we can get in early with a tight 26 pip STOP (at 2.1175).
Furthermore, we have just seen the Pending Home Sales released. This was green at 1.6% (.2% better than expected) and Revised UoM Consumer Sentiment and this too was green (79.4 act. 76.5 exp).
Despite this BULLISH USD news, the market has failed to react though there is still time.
Worth a SHORT from these levels with a STOP as indicated at 2.1173 (ish) and a target of WPP mid pivot/200 EMA at around 2.099 though this target will depend on momentum over the next several hours if we see price drop.
GBPNZD Long TradeMARKET PHASE
OANDA:GBPNZD is in a long term uptrend (daily) with a short term corrective structure that has been taking place (4 hour).
AREA OF VALUE
Price continued to break lows within the corrective structure until it began to hold the bottom. There was a buildup of liquidity (sell stops, shorts, long order stop losses) below the corrective structure swing lows. Price violently moved down to trigger the sell stops (liquidity) to pair against the buy orders needed to take price up. Price has now started it’s initial move up but due to the velocity of the upward move, it's gapped orders around 168.624. Price has retraced back to this level to meet the demand, we can now expect a strong push upwards in the direction of the larger trend.
TRADE
I've entered my long position on OANDA:GBPNZD as follows:
Buy Limit: 2.10254
Stop Loss: 2.10099
Take Profit: 2.10564
RISK MANAGEMENT
R Ratio: 2
Equity at stake: 1%
Trail SL to 50% @ 1R Profit
Corrective sideway patternDear analysts and traders,
I hope you are doing well and are motivated for the week ahead. I wish you all the success in your business endeavors. Remember that success in trading lies in consistently defining and sticking to your rules.
As someone interested in the Elliott Wave Principle, I find it to be an invaluable tool for market analysis. I have developed my approach by combining this principle with my personal experience and by considering different scenarios that are likely to occur in the market. It should be noted that I do not like to be surprised in the market, and that's why I have different market prospects. I follow them to be sure and recognize the structure that is forming so that I can 100% recognize it.
I will share my analysis with you, but please note that I am not providing any buy or sell signals. My perspective on idea analysis is completely unbiased, so if the idea analysis meets your standards, you can use it as a guide to make an informed decision.
I have attached my previous analysis of the same market so that you can compare and see the differences. All the details of my analysis are clearly labeled, making it easy for you to understand. However, having a basic familiarity with the Elliott Wave Principle theory will help you understand the analytical idea more easily.
I have been studying the Elliott Wave Principle for almost three years now, and over time, my understanding of this knowledge and experience has grown. What I have achieved so far is the legacy of a genius called Ralph Nelson Eliot, and I am really happy with my progress. May peace be upon him.
Thank you for your support so far. I will always remember your kindness. Please share your comments and criticisms with me.
I hope my analysis will be useful to you in your business journey, and I wish you all the best.
Sincerely,
Mr. Nobody
GBPNZD My Opinion! SELL!
My dear friends,
Please, find my technical outlook for GBPNZD below:
The price is coiling around a solid key level - 2.1044
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 2.0958
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
More Momentum Ahead in NZD Forex Pairs?After scanning the FX crosses, I'm interested in pursuing trade setups on a few NZD crosses. The NZD crosses have had strong momentum. Until the weekly charts tell me this momentum is fading, I'm going to look to trade this strength.
Essentially I'm looking for trade setups to trade into the PWL/PWH (depending on the cross). I need to see H4 levels respected to then confirm looking for a strong M15 displacement shift to base an entry from.
GBPNZD Will Collapse! SELL!
My dear friends,
My technical analysis for GBPNZD is below:
The market is trading on 2.1015 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 2.0926
Recommended Stop Loss - 2.1061
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
GBPNZD Long TradeMARKET PHASE
OANDA:GBPNZD is in a long term uptrend (daily) with a short term corrective structure that has been taking place (4 hour).
AREA OF VALUE
There was a buildup of liquidity (sell stops, shorts, long order stop losses) below the corrective structure swing lows. Price violently moved down to trigger the sell stops (liquidity) to pair against the buy orders needed to take price up. Price has now started it’s initial move up but due to the velocity of the upward move, it's gapped orders around 2.09770. Price may retrace back to this level to meet the demand as we expected. Once price reaches this level, we can expect a strong push upwards in the direction of the larger trend.
TRADE
I will be entering long on OANDA:GBPNZD with the following parameters:
Buy Limit: 2.09770
Stop Loss: 2.09360
Take Profit: 2.10590
GBP/NZD BEST PLACE TO SELL FROM|SHORT
Hello,Friends!
The BB upper band is nearby so GBP/NZD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 2.089.
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