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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 (1.9620 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 (1.9620)
    • Resistance on 03/21/2018
    • Resistance on 03/22/2018
    • Support on 04/25/2018
    • Resistance on 05/10/2018
    • Resistance on 05/14/2018
    • Resistance on 07/02/2018
    • Peak on 07/03/2018
    • Resistance on 07/03/2018
  • 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
DateAugust 12, 2018 - 16:41
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 1.98350, resumption of downtrend is expected.
  • We make sure when the support at 1.90950 breaks.
  • If the resistance at 1.98350 is broken, the short-term forecast -resumption of downtrend- will be invalid.

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 uptrend #1 and it prevented price from more losses.
  • A trough is formed in daily chart at 1.9065 on 08/08/2018, so more gains to resistance(s) 1.9460, 1.9620, 1.9755 and maximum to Major Resistance (1.9835) 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. 1.9460
  2. 1.9350
  3. 1.9210
  4. 1.9095
  5. 1.8930
  6. 1.8785
  7. 1.8640
  8. 1.8270
  9. 1.7900
  10. 1.7440
  11. 1.6705
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.