Daily Analysis | GBP/NZD | 7 of November

Posted 07 November, 2017

The GBP/NZD is consolidating within the cup with handle pattern and we might see a breakout as there is also a trend line confluence. If the price spikes above the trend line/ EMA89 /D H4 / ATR pivot -1.9035 and/or we see a 4h close above the level the price might continue its move towards 1.9095 and 1.9145. Below 1.8970 (D H1, atr pivot, trend line) we might see 1.8920, 1.8886 and 1.8825. Watch for camarilla levels and have in mind that this pair - the GBP/NZD (also know as "The Beast") is very volatile so once you are in profit, you should protect it by using profit stops.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)
W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC - Point Of Confluence (The zone where we expect price to react aka entry zone)
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                                                                                                                 By Nenad Kerkez | Admiral Markets

 

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Previous forecast

08 November, 2017 12:17

← Daily Analysis | EUR/JPY | 8 of November

Different Forex crosses are breaking out of their consolidation phase, making breakouts off the important levels as we could see yesterday in the example of the GBP/NZD. Today we have a consolidation with a possible breakout on EUR/JPY. 

Daily Analysis | EUR/JPY | 8 of November

Next forecast

06 November, 2017 12:47

Daily Analysis | WTI Ascending Scallop at 61.8 | 6 of November →

The WTI is in a strong uptrend. The price is getting positive momentum and at this point a retracement towards the POC could possibly be used for another leg to the upside. Near term historical buyers are aligned with the POC 55.00-55.20 (Order block, 61.8, D L3, trend line,

Daily Analysis | WTI Ascending Scallop at 61.8  | 6 of November
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