GBPNZD has been choppy on the H1 chart. The pair seems to have found its support at 1.78100. Today’s price action on the Intra-day charts has been bullish so far. Thus, the pair might make a breakout towards the North and offer us long entry. Let us have a look at the H1 chart of GBPNZD.
As we can see that, the current H1 candle is trying to make a breakout at 1.78500. If we get the breakout here, then the price should make another higher high on the 15M chart and come back at the level again. If we get a 15M reversal candle right at this level, then a long entry should get us some green pips. Let us have a look at the summary of the trade
- Buy Stop Order: 1.78500
- Stop Loss Level: 1.78100
- Take Profit Target: 1.79000
This signal has been analyzed on 15M chart. We might get the breakout right from here according to our chart setup that we have showed here. However, if the price comes back to the support zone and makes a breakout, then it would be an H1 entry. That is when we would wait for an H1 confirmation. If that happens, then the price might go towards all the way to 1.79350 even. Let us wait and see what we get at the end.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: GBPNZD Free Forex Trading Signals – 5th April 2017
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