Bullish continuation NZDCHF for the week of 21 Mar
Since 01 Feb, this pair has had a nice bullish run. The resistance at 0.6260 and 0.6400 regions have been overcome with ease, the pullbacks have also been mostly shallow and weak. It is my sense that the bulls are still in control here and if we get a pullback to the 0.6400 area, I will be looking to take a long trade.
An entry at 0.6400 will give us a reasonable stop loss with the target at 0.6600. This would be a +3R trade.
Bear in mind the Russia/Ukraine crisis and the possibility of sudden spikes in case of any major events in that arena.
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Always use sound money and risk management in all your trades.
An entry at 0.6400 will give us a reasonable stop loss with the target at 0.6600. This would be a +3R trade.
Bear in mind the Russia/Ukraine crisis and the possibility of sudden spikes in case of any major events in that arena.
If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications.
Always use sound money and risk management in all your trades.
Trade active:
This one working to perfection. Stop was never needed, now moved into profit. Will it reach my target? I have no idea except that this is looking good at the moment.
