GBPNZD Bearish Momentum Testing the Resistance Line
The price of the asset has been traded a downtrend since December 2017, creating a series of lower lows and lower highs.
Over the past week when the price touched the Support Line it quickly return to trading high up to now touch the Resistance Line.
If we look at the chart in a lower timeframe like 60min, 30min... we may notice that it has turn in to a bullish momentum taking a lot of traders going long but looking at the chart in 4h or Daily we realize that it is a Short because it has not pass the previous lower high and it is only testing levels.
This market analysis is just a investment idea, the same shouldn't be taken as a financial counseling without risk envolved.
CFD´s are very complex financial products that can result on the loss of most capital invested
Over the past week when the price touched the Support Line it quickly return to trading high up to now touch the Resistance Line.
If we look at the chart in a lower timeframe like 60min, 30min... we may notice that it has turn in to a bullish momentum taking a lot of traders going long but looking at the chart in 4h or Daily we realize that it is a Short because it has not pass the previous lower high and it is only testing levels.
This market analysis is just a investment idea, the same shouldn't be taken as a financial counseling without risk envolved.
CFD´s are very complex financial products that can result on the loss of most capital invested