GBP/NZD 4H Chart: Targets at 2.03 - Trade Pattern Ideas - Dukascopy Bank
Fri, 14 Sep 2018 06:16:48 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Buy
Buy
Buy
RSI (14)
Neutral
Sell
Neutral
Stochastic (5; 3)
Neutral
Neutral
Sell
Alligator (13; 8; 5)
Buy
Buy
Buy
SAR (0.02; 0.2)
Buy
Buy
Buy
Aggregate
⇒
⇒
⇒
The Pound Sterling has increased its trading range significantly against the New Zealand Dollar. This movement has been constrained in a junior ascending channel pattern.
The currency pair reached a nine-month high mark of 2.00 during Thursday's trading session. This appreciation has pushed technical indicators in the overbought zone. Bearish sentiment could drive the rate lower towards the 50-hour SMA during the following trading sessions.
By and large, it is likely that the GBP/NZD continue its upward momentum in the short-term. The likely target for bull's traders could be a resistance cluster at 2.03.
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