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  • Vasily Trader

MarketBreakdown | GBPUSD, EURUSD, NZDUSD, EURNZD



Hey traders,

here is a brief technical outlook of 4 peculiar instruments in my watch list.


1️⃣ GBPUSD - Daily time frame


With a very bullish trading day yesterday,

GBPUSD surely broke and closed above a falling trend line .

That breakout matches with a violation of 1.378 - 1.38 horizontal structure resistance cluster.


Now, being bullish biased, I will wait for an occasional retest of a broken trend line to buy the pair.


Next goal for buyers, 1.387


2️⃣ EURUSD - Daily time frame


The price has violated a resistance line of an expanding wedge pattern.

Being heavily overbought I would expect a slight retracement and then a bullish continuation to 1.19 / 1.195 (next two strong daily resistances).


Closest supports:

broken trend line of the wedge ,

1.18 horizontal structure


3️⃣ NZDUSD - 3 days time frame


The pair keeps growing.

Ahead is a strong daily supply zone .


0.711 - 0.716 is a wide historical resistance cluster.

Being heavily overbought I will expect a pullback from that area.


Also, remember that since February the pair is trading in a bearish trend ,

so for now this bullish rally is considered to be a correctional movement.


4️⃣ EURNZD - 3 days time frame


The pair is currently ranging.


1.66 - 1.716 is a wide horizontal consolidation area where the price is stuck.

Soon the price will approach its support.

I will look for a confirmation on a lower time frame to buy from there.


Alternatively, bearish breakout of the range's support will trigger a bearish continuation,

so if you are bearish biased, that will be your signal to short.

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