GBP/NZD 1H Chart: Bulls likely to prevail - Trade Pattern Ideas - Dukascopy Bank
Wed, 27 Feb 2019 13:52:29 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Sell
RSI(14)
Sell
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Sell
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇒
The British Pound has been appreciating against the New Zealand Dollar since the middle of February when the currency pair reversed north from the lower boundary of the medium-term ascending channel at 1.8700.
Currently, the exchange rate is testing the monthly R1 at 1.9390. Given that the pair is being supported by the 55-, 100– and 200-hour SMAs, it is likely that some upside potential prevails in the market. It is expected that the rate targets the upper channel line located in the 1.9650/1.19750 range.
If given channel does not hold, it is likely that a breakout north occurs within following sessions. A possible upside target is the monthly R3 at 2.0217. Otherwise, it is expected that a reversal south occurs soon.
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