FxWirePro: NZD/USD Plunges Below DMAs On Bearish Engulfing, Gravestone Doji Reminds Major Downtrend – Trading & Hedging Setup
FxWirePro: Norwegian Krone rallies as crude oil rises on bigger-than-expected drop in U.S. crude stocks
FxWirePro : GBP/NZD rallies above 1.9150,eyes further gains
• GBP/NZD rose higher on Wednesday as gains was driven by hopes of a breakthrough at high-level Brexit talks.
• GBP/NZD climbed above 1.9100 and holds near the day's high in US session.
• Technical signals are mixed as RSI is turing up, daily momentum studies 5, 9 and 10 DMAs are trending flat.
•The pair has traded a 65 pip range thus far on Wednesday, 1.9135-1.7205.Unless there is major negative news sterling uptrend is set to extend.
• Immediate resistance is located at 1.9212 (14 DMA), any close above will push the pair towards 1.9306 (50 % fib)
• Support is seen at 1.9127 (5 DMA ) and break below could take the pair towards 1.9029 (23.6% fib).
Recommendation: Good to buy around 1.9150, with stop loss of 1.9000 and target price of 1.9250.