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

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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