- Market News
Recent Market News Headlines
Market Focus: Gold Soars Amid Anticipated Chinese Fiscal Stimulus
Get the latest updates on Europe’s economic outlook, key market indicators, and potential currency movements following major events on October 11, 2024.
Asia-Pacific Markets Rally as Wall Street Hits New Highs
Asia-Pacific markets rallied following Wall Street gains, with the S&P 500 and Dow hitting records amid positive economic signals and easing geopolitical concerns.
Asia Focus: Chinese Markets Dive as U.S. Stocks Recover
Asia-Pacific markets showed mixed results as Chinese stocks fell sharply, while U.S. markets rebounded amid declining oil prices and key central bank decisions.
Chinese Market Surge Eases, Weighing Down Asian Indices
Asian markets falter as the Chinese rally fades, and indices report mixed results amid rising oil prices and Treasury yields.
- Technical Analysis
Recent Technical Analysis Headlines
EUR/CAD: Bull Finds a Fence
EUR/CAD- Technical Analysis- H4 Chart The chart shows that the price made a long bullish move on the H4 chart. The simple moving...
GBP/JPY: Bear Starts Its Move
GBP/JPY – Technical Analysis- H4 Chart The chart shows that the price made a long bullish move before making a bearish breakout at...
EUR/NZD: Bull Waits for a Ground
EUR/NZD -Technical Analysis- H4 Chart The chart shows that the price made a bullish breakout at the simple moving average 30’s resistance and...
NZD/USD: Bear Dominates with Strong Momentum
NZD/USD -Technical Analysis- H4 Chart The chart shows that it produced a double top at the simple moving average 30’s resistance and breached...
- TV
Recent TV Headlines
Video: Here’s the Trade Plan for EUR Pairs, as ECB Interest Rate is Announced Tomorrow
Here's the Trade Plan for EUR Pairs, as ECB Interest Rate is Announced Tomorrow
Video: Watch These Setups on CAD and JPY Pairs, with Big News Incoming
Watch These Setups on CAD and JPY Pairs, with Big News Incoming
Video: How to Skyrocket Your Profits from *One* Trade Setup (Plus: This Week’s Trade Results)
How To Squeeze More Profits from ONE Trade Setup (Plus: This Week's Analysis Results)
Video: Watch for These Breakouts on Minor Pairs & Dollar Direction Imminent
Watch for These Moves on Minor Pairs & Dollar Direction Imminent
- Market News
Recent Market News Headlines
Market Focus: Gold Soars Amid Anticipated Chinese Fiscal Stimulus
Get the latest updates on Europe’s economic outlook, key market indicators, and potential currency movements following major events on October 11, 2024.
Asia-Pacific Markets Rally as Wall Street Hits New Highs
Asia-Pacific markets rallied following Wall Street gains, with the S&P 500 and Dow hitting records amid positive economic signals and easing geopolitical concerns.
Asia Focus: Chinese Markets Dive as U.S. Stocks Recover
Asia-Pacific markets showed mixed results as Chinese stocks fell sharply, while U.S. markets rebounded amid declining oil prices and key central bank decisions.
Chinese Market Surge Eases, Weighing Down Asian Indices
Asian markets falter as the Chinese rally fades, and indices report mixed results amid rising oil prices and Treasury yields.
- Technical Analysis
Recent Technical Analysis Headlines
EUR/CAD: Bull Finds a Fence
EUR/CAD- Technical Analysis- H4 Chart The chart shows that the price made a long bullish move on the H4 chart. The simple moving...
GBP/JPY: Bear Starts Its Move
GBP/JPY – Technical Analysis- H4 Chart The chart shows that the price made a long bullish move before making a bearish breakout at...
EUR/NZD: Bull Waits for a Ground
EUR/NZD -Technical Analysis- H4 Chart The chart shows that the price made a bullish breakout at the simple moving average 30’s resistance and...
NZD/USD: Bear Dominates with Strong Momentum
NZD/USD -Technical Analysis- H4 Chart The chart shows that it produced a double top at the simple moving average 30’s resistance and breached...
- TV
Recent TV Headlines
Video: Here’s the Trade Plan for EUR Pairs, as ECB Interest Rate is Announced Tomorrow
Here's the Trade Plan for EUR Pairs, as ECB Interest Rate is Announced Tomorrow
Video: Watch These Setups on CAD and JPY Pairs, with Big News Incoming
Watch These Setups on CAD and JPY Pairs, with Big News Incoming
Video: How to Skyrocket Your Profits from *One* Trade Setup (Plus: This Week’s Trade Results)
How To Squeeze More Profits from ONE Trade Setup (Plus: This Week's Analysis Results)
Video: Watch for These Breakouts on Minor Pairs & Dollar Direction Imminent
Watch for These Moves on Minor Pairs & Dollar Direction Imminent
Our Newsletter
Subscribe to ForexPropNews Trading Newsletters
Receive the best-curated content by our editors for the week ahead.
Mini Charts
GBP/NZD: Bull Waits for Its Ground to Make a Move
Md Tareq SikderOctober 20, 20231 Mins read 
- GBP/NZD has been very bullish on the H4 chart.
- The pair trends towards the upside by obeying a trend line.
- The H1 chart looks bullish.
- Intraday minor charts have been bullish in New York session.
GBP/NZD- Technical Analysis-H4 Chart
The chart shows that the price has been heading towards the North with good bullish momentum. A bullish trend line along with the simple moving average 30 has been its support. At the last bounce, the pair produced a bullish engulfing candle and headed towards the North in a hurry. However, the pair seems to have found horizontal resistance. The pair may make a bearish correction. The buyers would be very keen to keep their eyes on the pair to go long from around the support of that trend line. If the chart produces a bullish reversal pattern at the trendline’s support, the pair may find its resistance around 2.11200.
On the downside, if the price breaches the trendline, the sellers may look to go short upon breakout confirmation followed by a bearish reversal pattern at the value areas.
Price Action Analysis- H1 Chart
The chart shows that the pair after being very bullish on the H1 chart, had a rejection at 2.08470. The price then headed towards the North again. As of writing, the pair trades around that resistance. The sellers may wait for the price to make a bearish move to look for short opportunities. The price may find its support again around 2.07330. A bearish breakout below that level may drive the price towards the South further.
On the contrary, the buyers may be very keen to go long above the resistance. A bullish breakout at that level may push the price towards the North further. The price may find its resistance around 2.09800.
Considering both charts, it seems that the pair may make another bullish move. It may offer some short entries to the minor charts traders. Overall, it is the bull, which may dominate in the pair for a while.
Written by: Md Tareq Sikder, Senior Analyst Forex Prop News
Contact and follow Tareq on Twitter: @tareqfpn
Our Newsletter
Subscribe to ForexPropNews Trading Newsletters
Receive the best-curated content by our editors for the week ahead.
Mini Charts
Related Articles
Market Focus: Gold Soars Amid Anticipated Chinese Fiscal Stimulus
Get the latest updates on Europe’s economic outlook, key market indicators, and...
Asia-Pacific Markets Rally as Wall Street Hits New Highs
Asia-Pacific markets rallied following Wall Street gains, with the S&P 500 and...
Asia Focus: Chinese Markets Dive as U.S. Stocks Recover
Asia-Pacific markets showed mixed results as Chinese stocks fell sharply, while U.S....
Chinese Market Surge Eases, Weighing Down Asian Indices
Asian markets falter as the Chinese rally fades, and indices report mixed...
Leave a comment