Trade
I am looking to buy GBP/NZD on a break of 2.37. My stop will be at 2.3555 (145 pips) with a target of 2.4173 (473) pips.
I am labelling this as wave c of iii of an ending diagonal. We maybe haven't got quite enough information to confirm this yet but if it not a wave c it will be a wave 3 so either way I am looking for upside. RSI is holding the 50-40 zone after making a bullish break of the 50-60 zone which helps me look at this move down as corrective.
Fundamentally we have quite substantial NZD event risk today
1) Global Dairy Auction usually between 14:00 and 15:00 GMT
2) Employment Change q/q Expected at 0.5% Previous 0.7% 23:45 BST
3) Unemployment rate Expected 5.9% last 5.8% 23:45 BST
I am looking to buy GBP/NZD on a break of 2.37. My stop will be at 2.3555 (145 pips) with a target of 2.4173 (473) pips.
I am labelling this as wave c of iii of an ending diagonal. We maybe haven't got quite enough information to confirm this yet but if it not a wave c it will be a wave 3 so either way I am looking for upside. RSI is holding the 50-40 zone after making a bullish break of the 50-60 zone which helps me look at this move down as corrective.
Fundamentally we have quite substantial NZD event risk today
1) Global Dairy Auction usually between 14:00 and 15:00 GMT
2) Employment Change q/q Expected at 0.5% Previous 0.7% 23:45 BST
3) Unemployment rate Expected 5.9% last 5.8% 23:45 BST
