RiosTrades

NZDCHF, EURNZD CORRELATION

Short
FX:NZDCHF   New Zealand Dollar/Swiss Franc
Previously analyzed the Euro/Kiwi, using Price Action we were looking to go Long (Refer to my previous analysis on EURNZD) We have a 95% Negative Correlation to EURNZD therefore we see price express itself like 2 Positive Magnets. Price is moving in an extreme downtrend which isn't hard to analyze with naked forex. I'd be highly interested in finding a high probable entrance into this pair if price decides to pullback into previous structure which can also lead price to rally at an Important Fibonacci Level before continuing short.
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