GBP/NZD – Breaks the uptrend

Note: Pending home sales is today

Bearish: Forex Strategies: Currently we are at 2.0745 out of the channel. We are looking for a continuation to the ATR Target @ 2.0680. There is a 0.382 Fibo further @ 2.0646. We should see a reaction there. Watch the USDX for direction and the Fundie could negate all of this. The average daily true range (ATR) for the pair is 109 pips per day and it’s 90 day average is 112 pips per day. Forex Analysis says USDX is currently down.

Posted to Introduction to Forex Targe… on Jun 27, 2024 — 8:06 AM

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