AdamFx42
Long

Nzd/Chf Bullish above Fibonacci Expansion Target

FX:NZDCHF   New Zealand Dollar/Swiss Franc
The risk-off sentiment surrounding the markets at the moment seems in favor of Nzd and Aud

Nzd/Chf has a nice setup:

Price is rejecting lows around 0.6260
This level is also 61.8% Fibonacci Expansion target on the 4 hour chart
This level is acting as a support area and a possible target for Nzd/Chf

Above the target we see a bullish engulfing candle has formed
Stoch indicator shows a slight bullish divergence, and is moving up

If a low is indeed in place here, this trade could provide excellent RR ratio
First target would be the taking out of previous highs on 4 hour chart around 0.64
and second target will be the 23.6% Fibonacci daily retracement level

Nzd/Chf: Long above Fibonacci Expansion target
Entry 0.6260 -- 0.6300, SL: 0.6250, TP1: 0.64, TP2: 0.6540

p.s. Excuse me for posting this idea twice - I thought I did something wrong the first time
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