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GBP/NZD Technical Analysis - GBP/NZD Trading: 2022-05-18
GBP/NZD Technical Analysis Summary
Above 1,97
Buy Stop
Below 1,905
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
GBP/NZD Chart Analysis
GBP/NZD Technical Analysis
On the daily timeframe, GBPNZD: D1 is in an upward price channel and has broken through the 200-day moving average line upwards. Some indicators of technical analysis have formed signals for a further increase. We do not rule out a bullish movement if GBPNZD: D1 rises above its latest high and upper Bollinger band: 1.97. This level can be used as an entry point. Initial risk cap is possible below the lower Bollinger band and Parabolic signal: 1.905. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (1.905) without activating the order (1.97), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Forex - GBP/NZD
Great data on the labor market came out in Britain. Will the GBPNZD quotes continue to increase?
The move up means the strengthening of the British pound against the New Zealand dollar. Unemployment in Britain fell to 3.7% in March from 3.8% in February. In April, the reduction (-56.9 thousand) of applications for unemployment benefits (United Kingdom Claimant Count Change) continued. This is better than the forecast, which provides for their growth by 7.4 thousand. UK Employment Change 3-months (84 thousand) also exceeded the forecast. Now investors are waiting for the next batch of British statistics. May 18 will be published: inflation and producer price indices. On May 20, retail sales (United Kingdom Retail Sales) and consumer confidence index (GfK Consumer Confidence) will be released. The dynamics of the New Zealand dollar may be affected by the data on the state budget (New Zealand Budget Release), which will be released on May 19, as well as the publication of the New Zealand Trade Balance on May 20.
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