GBPNZD Chart 2

GBPNZD - Short Term Bearish

GBPNZD - Short Term Bearish by DanV on TradingView.com

12 December 2014

Updates and comments

RBNZ Interest Rate Decision - there has been speculation that the bank will cut rate today. In anticipation of this most of the NZD pairs have shown NZD to be weak as other have gained.

However, looking at all NZD pairs it seems that the gains have been of the corrective nature. Therefore, if the rates are maintained there could be spike in the prevailing direction and then reverse.

So with that in mind whilst GBPNZD remains long term bullish, the overall correction in play from recent high at 2.10 is still in development. If correct I suspect we might get short opportunity with high at 2.081 as the pivot on which suitable protective stop loss could be place or even better the high of 2.10.

Downside target is potentially 1.97 - 1.95 zone as the bottom of the rising trend channel. 

Failing this once the action has settled a short position could be considered on any retracement of the initial decline. 

As always, if you like my analysis select to follow me and the chart but do your own analysis for any trade planning and appropriate money management. 

DanV

Back to all GBPNZD charts

This Form cannot be submitted until the missing fields (labelled below in red) have been filled in
Contact
Please note that all fields followed by an asterisk must be filled in.
First Name*
Last Name*
E-Mail Address*
My question is*
GDPR*	I am at least 16 years of age. I have read and accept the privacy policy. I understand that you will use my information to contact me or send me the information I requested.
Please enter the word that you see below.