From the monthly and weekly perspective, price is approaching to the major resistance level before it goes down, a further downside is expected, since monthly perspective shows to us a clear bearish impulse followed by a correction, and next impulse to the downside is coming soon.
From the COT perspective, hedge funds are bearish bias on NZD and bullish bias on CHF, more short positions they had than the long position they had on NZD, and during NZD push to upside, more shorts are opened, this implied that they are accumulating their short positions in order to sell at a higher price.
The proper way to approaching this pair should be waiting the price reach the major resistance, and waiting for the market shift to the bearish environment on the 4H perspective, and if the market will provide to me one of my rules then I will take a short position on this pair with a good RR.
Always reactive to the market instead of predictive it, this analysis is based on the technical and COT perspective.
Comment down below let me know your thought on NZDCHF
From the COT perspective, hedge funds are bearish bias on NZD and bullish bias on CHF, more short positions they had than the long position they had on NZD, and during NZD push to upside, more shorts are opened, this implied that they are accumulating their short positions in order to sell at a higher price.
The proper way to approaching this pair should be waiting the price reach the major resistance, and waiting for the market shift to the bearish environment on the 4H perspective, and if the market will provide to me one of my rules then I will take a short position on this pair with a good RR.
Always reactive to the market instead of predictive it, this analysis is based on the technical and COT perspective.
Comment down below let me know your thought on NZDCHF