AzizKhanZamani

NZDCHF Local S/R| Swing Low|.382 Fibonacci| Price Action

Short
FX:NZDCHF   New Zealand Dollar/Swiss Franc
Evening Traders.

Today’s analysis- NZDCHF- trading below a key trading location where a bearish retest is probable,
Points to consider,
- Price action impulsive
- Local S/R Resistance
(.382 Fibonacci Confluence )
- Swing High Objective
- Oscillators Neutral

NZDCHF’s immediate price action is impulsive below Local S/R that is in confluence with the .382 Fibonacci, this allows for a bearish bias.

The swing high is current objective; price action taking this level out will increase the probability of further downside.

Both oscillators are trading above their range-mid; a larger correction will entail them back to bearish control zones.

Overall, in my opinion, NZDCHF is a valid short with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps

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Comments

I love your bias. thank you for sharing
+1 Reply
@abel11, Cheers !:)
Reply
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