The ‘Trade Room’ is where we post intraday strategies in multiple markets such as the Foreign Exchange market (Forex), Commodities, Indices and Stocks. The trade room is free to all traders and can be accessed 24 hours a day.
Every several days we conduct a poll in which you decide which financial instrument you wish us to analyse and we will publish it in the Trade Room.
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[indeed-social-locker sm_list=’fb,tw’ sm_template=’ism_template_3′ sm_list_align=’horizontal’ sm_display_counts=’false’ sm_display_full_name=’true’ locker_template=2 sm_d_text='<h2 style=”text-align: center;” data-mce-style=”text-align: center;”>GBPNZD INTRADAY STRATEGY IS LOCKED</h2><p style=”text-align: center;” data-mce-style=”text-align: center;”><img width=”240″ height=”230″ class=”alignnone size-full wp-image-5207″ alt=”lock edit1″ src=”https://www.ddmarkets.com/wp-content/uploads/2015/06/lock-edit1.jpg” data-mce-src=”https://www.ddmarkets.com/wp-content/uploads/2015/06/lock-edit1.jpg”></p><p style=”text-align: center;” data-mce-style=”text-align: center;”>Share this page to unlock the strategy.</p>’ not_registered_u=1 ism_overlock=’default’ ]After we successfully predicted the gains in GBPNZD a downtrend has been established as we suspected, which is why we exited the long trade.
[intense_spacer type=”inline”] Please click on the chart to enlarge:
GBPNZD 60min Chart 28/08/15
GBPNZD bearish channel can be easily noted on the 4hr chart. The most interesting resistance is the 200 Moving Average (MA, in blue). We note the 200MA acted as a firm resistance on GBPNZD prior attempt to break higher. A firm break above the 200MA may lead to further gains in the market, targeting the upper resistance of the channel. Should the price break above the channel while taking out the 55MA (in orange) a moderate recovery may be seen in the currency cross.
If the 200MA holds and the price breaks below the channel (below the support) further weakness may be seen. It is important to pay attention to the 2.3595 to ensure the price breaks below in order to pave the way for further losses towards 2.3408.
30/08/15 UPDATE: GBPNZD traded within the channel while the 200MA provided a fairly strong resistance as you may see from the 4hr chart.
Please click on the chart to enlarge:
GBPNZD 60min Chart 28/08/15
The strategy remains relevant as traders will continue to focus on the 200MA (in blue) and GBPNZD bearish channel.
If you wish to view more of our intraday strategies where we do provide in-depth market analysis than in the trade room you may sign up to our spot intraday plan. [/indeed-social-locker]
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[cjfm_visitor_content class=”” ]We have been providing trade alerts in the spot Forex market since May 2014. Sign up for one of our plans to access our trade alerts and review our documented trades performance.
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