Good Day Dynamic Traders,

Price on the GBPNZD chart has been coming into an upward sloping wedge and is now showing signs of what could be a triple top in a downtrend. This is yet to be confirmed, should price break the figure, the trendline support and eventually the current low.

MACD guidance indicates a possible downward movement in price given the divergence on the histogram and the signal lines. In addition, one could take into account the resistance area and the candle patterns. At this stage however, the signs are not strong enough to take a trade and further confirmation will be awaited prior to entering the market on this pair.

Patient Trading

Bijal Shah

Good Day Dynamic Traders,

Hope you are all well and having a good week so far. Apologies for my blog absence last week, I am travelling and intended to post however, I have had very limited internet connectivity in some of the areas I have been in and therefore was unable to do any blogs.

I thought I would do a post/update on the GBPNZD. Price has not done a great deal since my last post apart from continuing in a bit of a upward consolidation and what looks like a squeeze between two trend lines. The weekly chart shows the trend is very much bearish and there is nothing to suggest an imminent change. However, price is coming up to resistance area along with figure which may mean this might be the push needed to continue to start its way back downwards.

The below daily chart shows a little more detail relating to what I said above and you can see the channel more clearly. Price has managed to break through the daily VI on one occasion however, did a pop and drop and has not managed to go up any further. Given the advent of NFP this week we may not see the norm of what is to continue but we will monitor this pair and take appropriate action when the signals present themselves.

Good Trading

Bijal Shah

Greetings Dynamic Traders,

Hope you all had a great weekend.

My blog tonight is on the GBPNZD. Price has been in a steady downtrend and has provided nice profits for many of us this year. Since August price found support around 1.8500 and has bounced up, testing the value index on two occasions. More recently going through the value index but  finding resistance around 2.0500 and then retreating downwards again.

The trend lines on the chart below suggest price coming into a squeeze formation. It is not unusual, as many of you know for price to gather it’s breath after a big move in any direction and it looks like this is what price is doing.

Seeing price fail to break up on two occasions could mean that there is a good chance that it will continue down once the uncertainty/consolidation is out of its system. I will be keeping an eye on this pair to enter short once the low has been broken.

Patient Trading

Bijal Shah