Category: GBPNZD

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GBPNZD Weekly Forex Forecast 10th December to 16th December by yshashmi37 on TradingView.com

Midterm forecast:

1.8930 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 1.8930 is broken.
Technical analysis:

There is a divergence in RSI and price between the trough at 1.86195 on 2018-11-16 and the trough at 1.82755 on 2018-12-04, the probability of downtrend continuation is decreased and the probability of beginning the correction wave is increased.
While the RSI resistance #1 at 49 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 1.8630 on 12/06/2018, so more losses to support(s) 1.8275, 1.7900, 1.7440 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 34.

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GBPNZD Weekly Forex Forecast 1st December to 7th December by yshashmi37 on TradingView.com

Midterm forecast:

1.9245 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 1.9245 is broken.
Technical analysis:

While the RSI resistance #1 at 49 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 1.8985 on 11/22/2018, so more losses to support(s) 1.7900, 1.7440, 1.6705 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 28.

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GBPNZD Weekly Forex Forecast 25th November to 1st December by yshashmi37 on TradingView.com

Midterm forecast:

1.9245 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 1.9245 is broken.
Technical analysis:

A trough is formed in daily chart at 1.8620 on 11/16/2018, so more gains to resistance(s) 1.8930, 1.9095 and maximum to Major Resistance (1.9245) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 37.

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GBPNZD Weekly Forex Forecast 19th November to 25th November by yshashmi37 on TradingView.com

Midterm forecast:

1.9245 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 1.9245 is broken.
Technical analysis:

A peak is formed in daily chart at 2.0470 on 10/11/2018, so more losses to support(s) 1.8605, 1.7900, 1.7440 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 23.

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GBPNZD Weekly Forex Forecast 11th November to 17th November by yshashmi37 on TradingView.com

Midterm forecast:

There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.9835 would begin in Midterm.
Technical analysis:

The RSI bounced from the support #1 at 32 and it prevented price from more losses.
A peak is formed in daily chart at 2.0470 on 10/11/2018, so more losses to support(s) 1.9095, 1.8930, 1.8605 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 32.

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GBPNZD Weekly Forex Forecast 3rd November to 9th November by yshashmi37 on TradingView.com

Midterm forecast:

There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 2.0470 would begin in Midterm.
Technical analysis:

There is a divergence in RSI and price between the peak at 2.00305 on 2018-09-18 and the peak at 2.04675 on 2018-10-10, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
The RSI bounced from the support #2 at 32 and it prevented price from more losses.
A peak is formed in daily chart at 2.0470 on 10/11/2018, so more losses to support(s) 1.9435, 1.9245, 1.9095 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 39.

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GBPNZD Weekly Forex Forecast 22nd October to 28th October by yshashmi37 on TradingView.com

Midterm forecast:

While the price is below the resistance 2.0470, beginning of downtrend is expected.
We make sure when the support at 1.9640 breaks.
If the resistance at 2.0470 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:

There is a divergence in RSI and price between the peak at 2.00305 on 2018-09-18 and the peak at 2.04675 on 2018-10-10, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
A peak is formed in daily chart at 2.0470 on 10/11/2018, so more losses to support(s) 1.9755 and minimum to Major Support (1.9640) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 45.

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GBPNZD Weekly Forex Forecast 7th October to 13th October by yshashmi37 on TradingView.com

Midterm forecast:

1.9835 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:

While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 1.9640 on 10/02/2018, so more gains to resistance(s)2.0660, 2.0800, 2.1050 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 72.

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GBPNZD Weekly Forex Forecast 30 September to 6th October by yshashmi37 on TradingView.com

Midterm forecast:

Although current trend is uptrend, but we forecast a downtrend wave would begin in Midterm.
Technical analysis:

A peak is formed in daily chart at 1.9855 on 09/26/2018, so more losses to support(s) 1.9620, 1.9460, 1.9350 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 50.

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GBPNZD Weekly Forex Forecast 23rd September To 28th September by yshashmi37 on TradingView.com

Midterm forecast:

Although current trend is uptrend, but we forecast a downtrend wave would begin in Midterm.
Technical analysis:

Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 46.