Get started
forextidings

NZDCHF: Price has started unfolding final wave (Y)

New Zealand Dollar/Swiss Franc (FX:NZDCHF)  
forextidings Updated   
FX:NZDCHF   New Zealand Dollar/Swiss Franc
Trend Analysis Elliott Wave Parallel Channel elliottwaveprojection elliottwavecorrection elliottwaveideas NZDCHF ncdchf nzdchfshort nzdchflong
12
2
trendanalysis elliottwaves parallelchannel elliottwaveprojection elliottwavecorrection elliottwaveideas nzdchf ncdchf nzdchfshort nzdchflong
Key levels: 0.6520

Price is forming a corrective descending channel for 13 months.
Currently, the price is facing resistance at the upper band of the parallel channel.

As per Elliott wave projection, NZDCHF is forming corrective structures (W), (X) & (Y). Price has completed the intermediate wave (x) and started falling for the final wave (Y).

Traders can short for the following targets: 0.6362 - 0.6274 - 0.6124- 0.6052.

Invalidation: Breakout of wave (X)
Trade closed: target reached:
TP 1: 0.6362
Trade closed: target reached:
TP 2: 0.6274
Comment:
TP 3: 0.6124
Trade closed: target reached:
ALL Target Done

Related Ideas

forextidings
MSFT: Bears Have Taken Control Over Bulls
forextidings
EWT: Tesla Has Brokendown The Corrective Structure
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.