ProForex101
New Member
Looking out for a possible sell on GBPNZD if a nice reaction for a sell is spotted in the 1.91010 area. The reason for the sell is because we have broken through a support/resistance area and looking out for support to become resistance.
If any signals for this sell is spotted then we can be targeting 1.88770 area which is a demand sitting far below.
Since this is a 1H chart expecting for this trade to play out in the course of a 1 to 2 business days.
The most significant indicators to keep an eye out for is BRC like for like Retail Sales (YoY) for the British Pound. We are wanting this to show some weak/bearish sentiments. For New Zealand Dollar we would like the quarterly release of RBNZ inflation expectation to show some strong sentiments. There is some signs that this indicator will show positive sentiments as New Zealand's economy has been active during these uncertain Covid-19 pandemic times. New Zealand has not gone for a lockdown for over 9 months as the government had a great Corona Virus response and got it under control!
Let's see how this plays out and depending on the reaction near our support resistance area and the outcome of the fundamentals we will decide to get on this trade or stand aside.
If any signals for this sell is spotted then we can be targeting 1.88770 area which is a demand sitting far below.
Since this is a 1H chart expecting for this trade to play out in the course of a 1 to 2 business days.
The most significant indicators to keep an eye out for is BRC like for like Retail Sales (YoY) for the British Pound. We are wanting this to show some weak/bearish sentiments. For New Zealand Dollar we would like the quarterly release of RBNZ inflation expectation to show some strong sentiments. There is some signs that this indicator will show positive sentiments as New Zealand's economy has been active during these uncertain Covid-19 pandemic times. New Zealand has not gone for a lockdown for over 9 months as the government had a great Corona Virus response and got it under control!
Let's see how this plays out and depending on the reaction near our support resistance area and the outcome of the fundamentals we will decide to get on this trade or stand aside.
