Evening Traders,
Today’s analysis – GBPNZD- trading above the 200 MA with further upside potential,
Points to consider,
- Price Action Impulsive
- Local S/R Support
(.382 Fibonacci Confluence)
- Swing High Objective
- Oscillators Bullish Control Zone
GBPAUD’s immediate price action is trading at a key trade location where a respect is probable. The area is in technical confluence with the Local S/R and .382 Fibonacci.
The swing high is immediate objective; price action exceeding this level will increase the probability of a higher high.
Both oscillators are trading in their respective bullish control zones. Remaining in these regions is indicative of strength in the market.
Overall, in my opinion, GBPNZD is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember!
“The market is a device for transferring money from the impatient to the patient.”- Warren Buffet
Today’s analysis – GBPNZD- trading above the 200 MA with further upside potential,
Points to consider,
- Price Action Impulsive
- Local S/R Support
(.382 Fibonacci Confluence)
- Swing High Objective
- Oscillators Bullish Control Zone
GBPAUD’s immediate price action is trading at a key trade location where a respect is probable. The area is in technical confluence with the Local S/R and .382 Fibonacci.
The swing high is immediate objective; price action exceeding this level will increase the probability of a higher high.
Both oscillators are trading in their respective bullish control zones. Remaining in these regions is indicative of strength in the market.
Overall, in my opinion, GBPNZD is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember!
“The market is a device for transferring money from the impatient to the patient.”- Warren Buffet