GBPNZD analysis 02.09.2020

GBPNZD

The assumed correction is approaching the 50% Fibo level from the rising wave. A price pivot zone of 1.9634 is also there. If the level holds, a descending truncated pattern will continue to form. The bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator indicates an oversold condition.

Trading recommendations:

Buy strictly when an ascending wave pattern is formed, where the wave (as) breaks through the inclined channel of the descending pattern.

Stop Loss under the local minimum.

Target levels: first take profit at 1k1, and then transfer to breakeven. The second goal is 2.0266.