FxWirePro

GBP/NZD Chartpack - Technicals & Trade Setup

FX_IDC:GBPNZD   英镑/纽元
105 1 8
GBP/NZD bulls bang on with engulfing pattern but major downtrend may resume at 21-EMA – Double touch binary speculation on RBNZ and BoE:

After strong support at 1.8660, bulls have managed to bounce back with sharp rallies with convincing volumes. As a result, the bullish engulfing pattern candle is traced out (refer 4H chart).

Current price, for now, has gone above SMAs to form the peak of 1.8962 levels that is where bears have been active and attempting to break below support at 1.8872 levels.

Please be noted that in the recent history, bull swings have collapsed to above-stated support as and when it approaches this level (1.8872).

We could foresee more rallies if it manages to hold on to this level for another trading session, otherwise, failure swings likely to bring back slumps towards SMAs.

Bullish sentiments are backed by lagging indicators, 7SMA has crossed over 21SMA which is bearish SMA crossover. While MACD also indicates ongoing upswings likely to prolong further.

On a broader perspective, the major trend has been extremely bearish but from last 6-7 months, it has been sensing consolidation phase. Well, ongoing bullish swings likely to restrain below stiff resistance at 21EMA, you could very well observe that historically it has held this level as the very strong support about 3 years (from 2012 to 2015, refer monthly charts).

Amid central banks’ monetary policy seasons in both the UK and New Zealand, FX markets are likely to sense huge turbulence, and with accordingly we advocate below speculative binary options strategy.

Well, contemplating above technical reasoning, we could foresee equal chances for both bears and bulls with 7DMA as strong support with bullish bias on the contrary.

Hence, double touch option is useful for traders who believe the price of an underlying asset would undergo a large price movement, but who are unsure of the direction.

A trader can use a double touch option with barriers at 1.8843 and 1.8903 to capitalize on this outlook.

Some traders view this type of exotic option as being like a straddle position since the trader stands to benefit from a calculated price movement up or down in both scenarios.

In this case, the trader stands to make a profit if the rate moves beyond either of these levels before expiry, and he/she stands to lose the premium if the rate remains within these barriers.
In fact, this chart provides a different perspective of the market. This type of charting idea never passed through my mind. It is always good to keep in touch with professional traders.
Thank you for sharing this chart. Continue your good work.
回复
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
首页 股票筛选器 外汇信号搜索器 加密货币信号搜索器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
个人资料 个人资料设置 账号和账单 我的支持通知 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出