Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

GBPNZD Analysis & Trading Plan - 15 August 2024 #forex #trading #forexsignals #fyp #shorts

15 Aug 2024 · 1 min

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Vladimir Ribakov analyzes GBP/NZD using daily and 4-hour charts. He spots a bullish hidden divergence on the daily chart where price makes higher lows while MACD makes lower lows, plus a rising support line holding. On the 4-hour chart, a pullback stalls between 50% and 61.8% Fibonacci levels, signaling more upside if these support levels hold.

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Is pound New Zealand a buy? Let's take a look on the charts. Daily chart, we have a rising supportive line which is holding respectfully and a bullish hidden divergence. Higher lows on the chart, lower lows on the MACD histogram. The 4-hour chart created a classical bullish price action structure. Three higher highs, higher lows. Followed by a pullback. At the end of the pullback, a bullish divergence— lower lows on the chart, higher lows on the MACD. The interesting part here is that the pullback stopped right in between the 50% down to 61.8% Fibonacci levels. So as long as these levels hold, I remain bullish on the pound New Zealand and I expect further rise.