NZDUSD Update

A daily candle has closed above 0.62265, and traders after doing appropriate risk management can start entering long positions.

• The target is set at a price point of 0.64109.

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.

GBPCAD HIT Target Update

The short opportunity was played out on this pair.

• Target was hit at a price point of 1.68620.

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.

GBPNZD

The short opportunity seems to be playing out on this pair, with the exhaustion of buyers coming and breaking to lows and lower lows.

Both the inner and outer trendlines identified have been violated, waiting on the last lower low to form before engaging in a position. There has been a break below 2.02704 which is our follow-through for more downside.

• The target is set at a price point of 1.97558.

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.

Final Thoughts On Today’s Analysis

In conclusion, the recent developments in the currency pairs suggest potential opportunities for traders. NZDUSD has exhibited a bullish trend, marked by a daily candle closing above 0.62265. Traders may consider entering long positions after implementing effective risk management, with a target set at 0.64109. Subscribe to our YouTube Channel for more on our market analysis.