Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
GBP/NZD reached buy target 1.9400
2019-11-11 • Updated
- GBP/NZD reached buy target 1.9400
- Next buy target - 1.9600
GBP/NZD recently broke through the resistance area lying at the intersection of the resistance level 1.9400 (top of the earlier impulse wave (i) and the previous buy target) and the resistance trendline of the wide weekly up channel from November of 2016. The breakout of this resistance area should accelerate the active minor impulse wave 5 of the impulse wave (C) from June. GBP/NZD is expected to rise toward the next buy target at the next resistance level 1.9600.
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
Discover the outlook for EUR/USD, EUR/GBP, and GBP/USD.
For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances
Let's start off with a look at the Daily timeframe on Bitcoin. We currently see price reacting to the rally-base-rally demand zone between the 15,600 - 14,300 price area. Price also seems to have found support off the trendline support as marked in the image above. Interestingly, this means the overall bias on BTCUSD is Bullish.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.