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Weekly forecast British Pound / New Zealand Dollar technical chart
Symbol GBPNZD
Trade Setup

#GBPNZD
Total Profit: -1314 pip
Closed trade(s): 0 pip Profit
Open trade(s): -1314 pip Profit

Trade Setup:
We opened 6 BUY trade(s) @ 1.9444 based on 'Valleyr' at 2022.04.29.

Open Profit:
Profit for one trade is 1.9224(current price) - 1.9444(open price) = -219 pip
6 trade(s) still open, therefore total profit for open trade(s) is -219 x 6 = -1314 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateMay 8, 2022 - 20:01
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.86994, beginning of uptrend is expected.
  • We make sure when the resistance at 1.96214 breaks.
  • If the support at 1.86994 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1.90439 on 2022-03-07 and the trough at 1.87037 on 2022-04-05, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 1.95555 on 05/02/2022, so more losses to support(s) 1.91648, 1.90476, 1.89429 and minimum to Major Support (1.86994) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 50.

Take Profits:

  1. 1.96214
  2. 1.98427
  3. 2.02650
  4. 2.05278
  5. 2.10300
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / New Zealand Dollar (GBPNZD) new Sun, 14 Apr 2024
British Pound / New Zealand Dollar (GBPNZD) Sat, 6 Apr 2024
British Pound / New Zealand Dollar (GBPNZD) Mon, 1 Apr 2024
British Pound / New Zealand Dollar (GBPNZD) Sat, 30 Mar 2024
British Pound / New Zealand Dollar (GBPNZD) Sun, 24 Mar 2024
History
Daily-Trading-Opportunities on GBPNZD.