Today I wanted to draw your attention to the GBPNZD cross pair, which has sparked up much conversation in our Forex War Room chat. The market is started to recover from a lengthy downtrend, the bearish momentum recently died off and caused the market to consolidate for a few weeks. A resistance level which was containing price was breached last week as the market exploded into higher prices. This has given us a bearish bias on this market now and we’re now looking for opportunities to get in long. Specifically, we are looking for a bearish correction to occur and weaken prices into an old resistance level. It’s critical this level act as support if this market has any chance of developing in an uptrend. Strong buying activity at this key level will confirm it is holding as support, and the market is gearing up for further upward movement. We will take no action unless a bullish price action signal forms, which will be the ‘trigger’ to go long. Dale Woods Dale Woods The Forex Guy is an educational Forex trading blog run by Dale Woods who has been a passionate retail Forex trader for over 6 years. Dale trades the Forex market exclusively with price action based methodologies, believing price action trading to be one of the powerful approaches used the market today, and really is the core foundation of any good trading system. Dale also strongly believes in keeping charts clean and keeping things simple, logical and uncomplicated. By making trading decisions straight off the raw price action data, you can ‘bypass’ unnecessary variables like exotic indicators, trading robots or magical pivot levels. Dale enforces the idea that there is hardly any edge trading news and economic data releases and much prefers to make trading decisions straight from the candlestick themselves. ‘The Forex Guy’ is dedicated to providing knowledge to serious and passionate traders who want to learn the art of price action trading, positive geared money management and how to psychologically condition themselves to become a professional trader. View All Post By Dale Woods Forex News Today: Daily Trading News share Read Next Dissecting FX Themes FxPro - Forex Broker 8 years Today I wanted to draw your attention to the GBPNZD cross pair, which has sparked up much conversation in our Forex War Room chat. The market is started to recover from a lengthy downtrend, the bearish momentum recently died off and caused the market to consolidate for a few weeks. A resistance level which was containing price was breached last week as the market exploded into higher prices. This has given us a bearish bias on this market now and we're now looking for opportunities to get in long. Specifically, we are looking for a bearish correction to occur and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
