GBPNZD has been following this navy blue Schiff Median Lines' set. Lately fell out of it, but the odds seem to be with the buyers. It may go up, but there's strong resistance up ahead at 1.9755, so I wouldn't be surprised to see it fail to reach the lower MLH and stall at that resistance level. If failed though, another leg down may form.
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this pair resit. is at 2.1000 area thats the new target,rnbz will tighten so gbp/nzd will make new highs from the drop of 2.0400 area to low lows sits at 1.9340 rnbz from interest rates rise buddy
ForceFollower
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Thank you. I'm looking forward to it.
Sam0101
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hi force, is the kiwi start declining now? what u think about this pair for now n past 30 mins ago as it struggle to pass 0.879. But it seems that decline has start effective as Kiwi has nothing to sustain it.
ForceFollower
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Hi, GohSam, the kiwi is still strong, but it's getting weaker esp. vs. the aussie (but probably soon also vs. the loonie and the sterling). However, vs. USD it's a different story. Why? Because currently the greenback is the weakest currency (even weaker than the euro) and the pair NZDUSD (NU) is - by my standards - in an up trend. So, even though I do expect some further weakening of the NZD, you might sooner see EURNZD (EN) go up than NZDUSD go down (By the way, compare the recent price action on H4 of these two pairs and notice a horizontal range in EN vs. an up trend in NU).