Forex Analysis Video with Future Predictions GBPNZD and EURGBP Week Feb 13th
ON GBPNZD, I am seeing price reject the low potentially. If price does, then this will be a key reversal are to pay attention to. It would be a nice reversal trade as we see price rejecting the 1.6953 weekly and daily demand zone. To confirm this move, we need price to close above last weeks high at 1.7481 and that would confirm the move to the upside in my trading perspective. A lot of trading comes down to watching the right market at the right time. For this market it would be an amazing counter trend trade but at a key area of previous demand. The trend is being defined by APA Elite, zones with our base software. Really, and now all we need is price action to confirm or denying the trade. Simple.
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On EURGBP, I believe we area key trend decision point. Price is retesting a weekly demand zone at .8627 and bouncing of a daily trend-line which you can see in the video. On the daily time-frame we have been looking at a tight range for the past couple of weeks. Basic idea for a trade right now would be to play the extremes of the daily range in the direction we expect price to move. I believe that price will break to the downside, and a new Trend will form because there are so many bounces off the trend line and the demand zones inside the weekly demand zone. When price tests areas that many times it tends to “weaken” the area for it to break. The fewer touches on a level, the stronger the zone.
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