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

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.9525 to 1.9755). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.9525)
    • Resistance on 11/17/2017
    • Resistance on 11/21/2017
    • Support on 12/01/2017
    • Support on 12/04/2017
    • Support on 12/05/2017
    • Support on 12/08/2017
    • Resistance on 03/19/2018
    • Resistance on 03/20/2018
    • Resistance on 03/26/2018
    • Resistance on 03/27/2018
    • Resistance on 03/28/2018
    • Resistance on 03/29/2018
    • Peak on 04/03/2018
    • Resistance on 04/03/2018
    • Resistance on 04/16/2018
    • Resistance on 04/17/2018
    • Resistance on 04/18/2018
    • Resistance on 04/19/2018
    • Resistance on 04/23/2018
    • Resistance on 05/10/2018
    • Support on 05/16/2018
    • Resistance on 05/21/2018
    • Resistance on 06/29/2018
  • Ending of entry zone (1.9755)
    • Resistance on 12/08/2017
    • Resistance on 04/25/2018
    • Peak on 04/26/2018
    • Resistance on 04/26/2018
    • Resistance on 04/27/2018
DateJuly 8, 2018 - 17:11
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.98350 would begin in Midterm.

Technical analysis:

  • The Rising Wedge taking shape and as a bearish pattern suggests we will soon see another leg lower if price breaks and closes below uptrend.
  • The RSI bounced from the downtrend #1 and it prevented price from more gains.
  • A peak is formed in daily chart at 1.9620 on 07/03/2018, so more losses to support(s) 1.9350, 1.9210, 1.9095 and more depths 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 56.

Take Profits:

  1. 1.9350
  2. 1.9210
  3. 1.9095
  4. 1.8930
  5. 1.8785
  6. 1.8640
  7. 1.8270
  8. 1.7900
  9. 1.7440
  10. 1.6705
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / New Zealand Dollar (GBPNZD) new Sun, 21 Apr 2024
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
History
Daily-Trading-Opportunities on GBPNZD.