Daily GBPNZD Current Swing Long

Double bottom on daily with a bounce pin from support as labeled with the second green arrow.. There is a current candle close above the 200 MA and the 50 but a rejection from the 20 day high and 20 day low average line in orange. From looking at the lower time frames it appears this would be a very brief set back in an otherwise bull trend to the upside on this current swing since 200 and 100 EMA is hovering right underneath along with our weekly support line.

Appears the current price swing is going to come down to 1.91266 area to pick up momentum before going long to retest the 1.94238 area.

Kommentera:

Hope everyone was successful in their trades. RBNz served as the catalyst for today.