MarketBreakdown | GBPUSD, EURUSD, NZDUSD, EURNZD

3 Sep 2021

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.

❤️Please, support this idea with a like and comment!❤️