GBPNZD
Daily Timeframe:
Looking at the chart, the market is making lower highs and lower lows which signifies a downtrend. The market is situated at a critical area, below the daily exponential moving average, at previous structure and making the third touch of the descending trendline.
4Hour Timeframe:
The market is situated at previous structure which has been rejecting multiple times, below the descending trend, printing a bearish engulfing candlestick
1Hour Timeframe:
Looking at the 1hour chart, the market has broken the counter trendline and retest it before shooting down, which could be taken as a good signal to enter a short position @ 2.0400
TP 1 @ 2.0150
For more market breakdown, follow me on IG @ APASTORFX
Looking at the chart, the market is making lower highs and lower lows which signifies a downtrend. The market is situated at a critical area, below the daily exponential moving average, at previous structure and making the third touch of the descending trendline.
4Hour Timeframe:
The market is situated at previous structure which has been rejecting multiple times, below the descending trend, printing a bearish engulfing candlestick
1Hour Timeframe:
Looking at the 1hour chart, the market has broken the counter trendline and retest it before shooting down, which could be taken as a good signal to enter a short position @ 2.0400
TP 1 @ 2.0150
For more market breakdown, follow me on IG @ APASTORFX
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