The GBPNZD pair has reached a very strong level of long term resistance. I am not saying I am entering this trade, I am just saying I am going to keep a close eye on it. There is an opportunity for an attractive risk reward ration of 4:1 with also the chance to catch over 1000 pips.
The very long tail on this weeks candle could signal that the bears are taking over, however I am waiting to see how this candle closes on friday. If you zoom in to the Daily or the 4 hour time frame, you will see that price has not yet broken the strong support line around 2.10600, I want price to reach around 2.10300 before I think about entering.
Tell me your views and what you think is going to happen with this pair.
The very long tail on this weeks candle could signal that the bears are taking over, however I am waiting to see how this candle closes on friday. If you zoom in to the Daily or the 4 hour time frame, you will see that price has not yet broken the strong support line around 2.10600, I want price to reach around 2.10300 before I think about entering.
Tell me your views and what you think is going to happen with this pair.