GBPNZD Wave Analysis – 22 November , 2018

GBPNZD reversed from key support area
Further gains are likely

GBPNZD recently reversed up from the key support area lying between the long-term support level 1.8620 (previous monthly low from January) and the lower daily Bollinger Band.

The upward reversal from this support area started the earlier short-term impulse wave (iii) – which belongs to the multi-month upward impulse sequence from last year.

GBPNZD is expected to rise further and re-test the next resistance level 1.90000 (former strong support from February, March and June).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Next Gold Wave Analysis – 22 November , 2018 »

Previous « Telegram’s $1.7 Billion Cryptocurrency is 70% Complete

Published by

The FxPro Tech Analysis Team

Tags: GBPNZD

6 years ago

The crypto market is stuck in the mud
Market Picture The crypto market has been hovering in a narrow range for the past…
Crypto market fails to confirm reversal
Market Picture The crypto market is consolidating in the $2.70 trillion area, near the bottom…
What is next: China and US Inflation & Canada’s Rate
The focus returns to inflation in the new week. On Sunday, China is expected to…