Long Signal in the GBPNZD

Hey traders, how did you do yesterday with the US GDP and FOMC statement?

Did you have any trade open or just closed them out?

Now, tomorrow we’ve got the Non-farm payrolls report, so again we need to be careful about your open positions…

But not too much, in the last few months we haven’t seen much impact after the NFP report, but that doesn’t mean it doesn’t have the potential to have a large impact in the market…

So we still need to be careful alright?

How do you handle your trades during important announcements like these ones?

Ok, now to our signal.

GBPNZD Long term analysis

First things first…

GBPNZD 1D

At first sight, it seems that the GBPNZD is trading near an important level… But when you look at the short term charts you see that it has already broken through that level…

GBPNZD short term analysis

Here is the hourly chart:

GBPNZD 1H

It’ clear that the market already broke through the important resistance level triggering a bullish condition, se we are clear to look for long opportunities.

Here are the details about my entry stop order:

Entry: 1.9975 + spread
SL: 1.9925
TP: 2.0190

So we’ve got a pretty good risk reward ratio.

Again, be careful with tomorrow’s announcement ok?

Your turn

Are you currently trading the GBPNZD? Are you going to trade this one?

What other currency pairs are you monitoring?

Share your thoughts

forex, GBPNZD signal, signal


Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .