GBPNZD LONG-Term Trade Idea
Welcome to my analysis on GBPNZD
If we look back on the DAILY time frame, we can see price was greatly manipulated up to the 2.17500 level, followed my a steady bear run down to 1.90 (3 pips off)
The double boom at this level suggests this is a solid support zone.
I believe bears are exhausted and bulls are now in control. Following today's bull rally, I expect price to come back down to our 50% FIB Level, before further rising to 2.0000.
SL appropriately placed below the lower range boundary.
*NOTE*
Keep in mind I plan to hold this trade for a considerable amount of time. Smaller lot size recommended.
-Connor-
If we look back on the DAILY time frame, we can see price was greatly manipulated up to the 2.17500 level, followed my a steady bear run down to 1.90 (3 pips off)
The double boom at this level suggests this is a solid support zone.
I believe bears are exhausted and bulls are now in control. Following today's bull rally, I expect price to come back down to our 50% FIB Level, before further rising to 2.0000.
SL appropriately placed below the lower range boundary.
*NOTE*
Keep in mind I plan to hold this trade for a considerable amount of time. Smaller lot size recommended.
-Connor-
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