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

#GBPNZD
Total Profit: 719 pip
Closed trade(s): 95 pip Profit
Open trade(s): 624 pip Profit

Trade Setup:
We opened 9 BUY trades @ 1.93439 based on 'Valley' entry method at 2023-03-03.

Closed Profit:
TP1 @ 1.94385 touched at 2023-03-06 with 95 pip Profit.

Open Profit:
Profit for one BUY trade is 1.94218(current price) - 1.93439(open price) = 78 pip
8 trade(s) still open, therefore total profit for open trade(s) is 78 x 8 = 624 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.
DateMarch 6, 2023 - 11:22
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.87757, beginning of uptrend is expected.
  • We make sure when the resistance at 1.96688 breaks.
  • If the support at 1.87757 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.91315 on 03/03/2023, so more gains to resistance(s) 1.94385, 1.95581 and maximum to Major Resistance (1.96688) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 57.

Take Profits:

  1. 1.94385
  2. 1.95581
  3. 1.96688
  4. 1.98427
  5. 2.00012
  6. 2.03127
  7. 2.05278
  8. 2.10300
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / New Zealand Dollar (GBPNZD) 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.