GBP/NZD - Bottom in place for the next huge rally

GBP/NZD - Bottom in place for the next huge rally

This is one of the currency pairs I look at from time to time. I have been tracking it more closely lately as we where getting closer to a long term bottom. This bottom was confirmed yesterday with the break above a minor ending diagonal resistance-line (not shown on the chart above). With that break a quick return to the origin of the ending diagonal at 2.1222 is in the cards, but longer term, we should a much stronger rally the ultimately should break above the 2.5000 high seen in August 2015.

Short term support is seen near 2.0670 and again at 2.0620 and the later should be able to protect the downside for a continuation higher towards 2.1222.  

Thomas
2014-05-28
phenomenal new service EWS, I have followed you for 18 months and the exceptional analysis continues unabated! I look forward to the daily updates focusing on the most interesting and potentially lucr...
Duane
2018-03-03
Hey EWS,

I just wanted to thank you for posting your charts. They are of great help to me. Your charts are a great teaching aid for learning Elliott Wave.

Duane
Duane
2014-08-29
Hey EWS,

Great work on the GBPCAD and the NZDCAD. These are the type of opportunities that I am looking for, monthly turns caught with daily or hourly entries. Easy money!!

Duane