Will the institution bear GBPNZD ?
The Institutions have entered the trade at 1.91790 , 1.94230 and 1.95470. After a successful bullish swing trade they will start planning to exit the trade at a good price around 1.97650.
Now the institutions will re-enter as a bearish trade . Bearish movement confirmed at 1.96730 after it broke the bullish trendline.
I have entered the trade at 1.96881 as a swing trade and will exit around 1.91790 and I will add more short positions along the way after a bullish correction.
Fundamentals :
NZD :
- bullish data ( retail sales ex autos rose to 6.8 % from 4.8 % / retail sales rose to 2.5 % from - 2.7 % ).
- Important release date will be held this Wednesday '' RBNZ Interest Rate Decision '' , If the RBNZ is hawkish about the inflationary outlook of the economy and rises the
interest rates it is positive / bullish, for the NZD.
GBP :
- No data this week.
Technical :
- Start of bearish movement at 76.8 % Fibo at 1.96955 .
- Fibo 61.8 % exit trade at 1.92108.
- Important support levels 1.96165 , 1.95290 and 1.94220
Now the institutions will re-enter as a bearish trade . Bearish movement confirmed at 1.96730 after it broke the bullish trendline.
I have entered the trade at 1.96881 as a swing trade and will exit around 1.91790 and I will add more short positions along the way after a bullish correction.
Fundamentals :
NZD :
- bullish data ( retail sales ex autos rose to 6.8 % from 4.8 % / retail sales rose to 2.5 % from - 2.7 % ).
- Important release date will be held this Wednesday '' RBNZ Interest Rate Decision '' , If the RBNZ is hawkish about the inflationary outlook of the economy and rises the
interest rates it is positive / bullish, for the NZD.
GBP :
- No data this week.
Technical :
- Start of bearish movement at 76.8 % Fibo at 1.96955 .
- Fibo 61.8 % exit trade at 1.92108.
- Important support levels 1.96165 , 1.95290 and 1.94220