informedtrades
Long

Pattern of Higher Lows on NZDCHF, Plus a Pullback.....

FX:NZDCHF   New Zealand Dollar/Swiss Franc
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NZDCHF has pulled back to support, its current price is above its upwardly-sloped 50 SMA , there is a pattern of higher lows, and a hammer candlestick pattern appears to be in place. Moreover, we are seeing signs of strength on other NZD pairs, most notably NZDCAD . In light of these factors, I'm going long at 75514, with my stop at 75061 and my target profit at 7741. This gives me a reward/risk of about 4.19.

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