Citi outlines Reasons To Be Cheerful 8 Technical Reasons To Go Long GBP/NZD. Summarised:
1. Posted a bullish outside day 2 trading days ago with a close over 1.9605
2. Closed above its 55 day moving average 2 trading days ago at 1.9600
3. Closed above its 200 day moving average 2 trading days ago at 1.9600
4. Closed above its downward sloping trend line 2 trading days ago at 1.9593
5. Broke decisively above its 21 April horizontal resistance today at 1.9634
6. Broke above the 12 February horizontal support at 1.9638
7. Broke above the 50% pullback of the 2.0232-1.9085 fall at 1.9650
8. It will complete the second bullish outside day in 3 trading days on a close today above 1.9649 (Which, they say, looks pretty likely)
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My eyes are up here
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Speaking of Reasons To Be Cheerful … nah, let’s have something different: Ullo John Gotta A New Motor
