In the dynamic world of forex trading, success is often measured by achieving targeted outcomes. Recent developments have seen both the GBPNZD and EURJPY pairs hitting their marks, while the EURNZD pair takes a momentary pause. In this blog post, we'll explore these movements, discuss the factors behind their successes, and analyse why the EURNZD pair might be adopting a different pace.

The GBPNZD Performance 

The target has been reached at price point 2.11793. A push below the previous target 1 will be a sign for us to take another position. Please wait patiently for the update. Please note that this should not be used as advice, but support that can assist clients to make a more informed decision on their own. Risk Management must be applied on a strict basis.

The EURJPY Performance 

EUR strengthened yesterday with a move to the upside of 122 pips. Price missed our target by about 13 pips before retracing. We are very happy with the progress and analysis. Please note that this should not be used as advice, but support that can assist clients to make a more informed decision on their own. Risk Management must be applied on a strict basis. Traders can take their profits while we wait for further development of price.

The EURNZD Performance 

BIG pause on this pair, we last saw the correlation on GBPNZD working well. The strengthening of the EUR pushed this pair to the upside giving us a mixed signal. We are waiting for further price action; traders should put a pause on it and wait for further communication in the next few days. This should not be used as advice, but as support that can assist clients for informed decisions on their own. Risk Management must be applied on a strict basis.

Read More: NBFIRA: Safeguarding Financial Integrity in Botswana’s Regulatory Landscape

Final Thoughts On Today’s Analysis 

The forex market is characterised by its ever-changing nature, and successful trading involves navigating these shifts with insight and strategy. The GBPNZD and EURJPY pairs have recently celebrated hitting their targets, while the EURNZD pair takes a brief pause. 

Traders should approach each currency pair with a comprehensive understanding of the underlying factors and a willingness to adapt to the dynamic nature of the market. Subscribe to our YouTube Channel for our analysis