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…
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:
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
So we’ve got a pretty good risk reward ratio.
Again, be careful with tomorrow’s announcement ok?
Are you currently trading the GBPNZD? Are you going to trade this one?
What other currency pairs are you monitoring?
Share your thoughts