The GBPNZD broke out of support level that lined up with ascending trendline with a five-wave impulse labelled wave 1.
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Currently, the price seems to be building a three-wave ABC zigzag corrective pattern labeled wave 2. The wave (c) of 2 "blue," is expected to terminate between 38.2 and 50.0 Fib ratio.
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Considering that the Fib ratio is lined up with moving averages and resistance zone, we will wait for the price to reach the confluence area and look for a breakout of the blue Counter Trend Line (CTL) for a conservative short entry.
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The price has the potential to move down towards the Fibonacci Extension 1 and support level at 1.81523 respectively.
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Thanks for reading!
Veejahbee.
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Currently, the price seems to be building a three-wave ABC zigzag corrective pattern labeled wave 2. The wave (c) of 2 "blue," is expected to terminate between 38.2 and 50.0 Fib ratio.
.
Considering that the Fib ratio is lined up with moving averages and resistance zone, we will wait for the price to reach the confluence area and look for a breakout of the blue Counter Trend Line (CTL) for a conservative short entry.
.
The price has the potential to move down towards the Fibonacci Extension 1 and support level at 1.81523 respectively.
.
Thanks for reading!
Veejahbee.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.