Will the support line of NZD/CHF have the power to stop Bears ?
Hi Traders,
hope you all have a fantastic Sunday afternoon.
Today we take a look at NZD/CHF price forecast for next week. Since 19th of March price has been in nice Ascending channel. Support line of this channel has been tested couple of times since the start of channel. However, we here at Triple Pips think that the biggest test is going to happen in start of next week. Last 2 trading days have been all Bears. Does the support line has strength to stop them ? We don't know that yet that's why we are going to wait for either Long or Short. For Long we will wait for price to bounce back from the support line and if the price will breakthrough the line we will open Short positions. The Relative Strength Index shows us the down-side pressure is only starting. (RSI 47.59)
Let us know in comment section what do you think is going to happen ?
hope you all have a fantastic Sunday afternoon.
Today we take a look at NZD/CHF price forecast for next week. Since 19th of March price has been in nice Ascending channel. Support line of this channel has been tested couple of times since the start of channel. However, we here at Triple Pips think that the biggest test is going to happen in start of next week. Last 2 trading days have been all Bears. Does the support line has strength to stop them ? We don't know that yet that's why we are going to wait for either Long or Short. For Long we will wait for price to bounce back from the support line and if the price will breakthrough the line we will open Short positions. The Relative Strength Index shows us the down-side pressure is only starting. (RSI 47.59)
Let us know in comment section what do you think is going to happen ?
