GBPNZD currency pair is currently showing a strong upward movement. On the H1 time frame, the Zig Zag indicator is highlighting notable extremes through the identification of increasing lows and highs. The 120-period moving average trend indicator, positioned below the price, confirms the buying strength. Today, focusing on buying from the 2.0650 level is advisable. The first take profit can be set at 2.1490, while the second take profit should be set at 2.1330. For these orders, the stop loss is set at 2.0620. However, if the pair stabilizes at 2.1490, it is crucial to wait for a change in the market situation before considering sales. Upon confirmation, direct selling might be appropriate.
For selling, the take profit level is 2.1350, and the stop loss is set at 2.1320. The current price is above 2.1231 but below the first resistance at 2.1481, indicating the potential start of an increase that may move towards the next resistance levels, R2 at 2.1549 and R3 at 2.1414. The increase might accelerate, surpassing the third resistance level of 2.1494, often driven by significant news or high liquidity. However, I monitor the price position relative to the main central pivot level because if there is a breakdown and consolidation below that point, trading should shift towards sales. The Envelopes indicator is useful for trading when the market is sideways. Trading within the price channel defined by the Envelopes lines is most effective during non-trending, slightly sideways movements. Rebounding from these borders presents tradable scenarios. As long as trading occurs within the upper half of the envelopes, sales are less favorable. A possible buying target is the upper line of the envelopes at 2.1308, and moving upwards is considered an increase. If the direction changes, indicated by a breakthrough at the 2.1373 level, focusing on selling is appropriate, moving towards the opposite border of the 24-period Bollinger channel.
The GBPNZD pair chart clearly shows an upward trajectory. Differences in drive levels confirm this outlook. The current price is within the stock zone, near various levels around 2.0980. Historically, Bears reversed the pattern here. What could now hinder the bullish rally? I will watch if buyers need to break through and secure this range to enter long positions. This range will serve as an entry point for positions. Once merchants gain traction below the 2.0968 support level, short bets taking a contrary stance will seem reasonable.
For selling, the take profit level is 2.1350, and the stop loss is set at 2.1320. The current price is above 2.1231 but below the first resistance at 2.1481, indicating the potential start of an increase that may move towards the next resistance levels, R2 at 2.1549 and R3 at 2.1414. The increase might accelerate, surpassing the third resistance level of 2.1494, often driven by significant news or high liquidity. However, I monitor the price position relative to the main central pivot level because if there is a breakdown and consolidation below that point, trading should shift towards sales. The Envelopes indicator is useful for trading when the market is sideways. Trading within the price channel defined by the Envelopes lines is most effective during non-trending, slightly sideways movements. Rebounding from these borders presents tradable scenarios. As long as trading occurs within the upper half of the envelopes, sales are less favorable. A possible buying target is the upper line of the envelopes at 2.1308, and moving upwards is considered an increase. If the direction changes, indicated by a breakthrough at the 2.1373 level, focusing on selling is appropriate, moving towards the opposite border of the 24-period Bollinger channel.
The GBPNZD pair chart clearly shows an upward trajectory. Differences in drive levels confirm this outlook. The current price is within the stock zone, near various levels around 2.0980. Historically, Bears reversed the pattern here. What could now hinder the bullish rally? I will watch if buyers need to break through and secure this range to enter long positions. This range will serve as an entry point for positions. Once merchants gain traction below the 2.0968 support level, short bets taking a contrary stance will seem reasonable.
تبصرہ
Расширенный режим Обычный режим