olly48

NZD/CHF Major Trendline Breakout

Long
FOREXCOM:NZDCHF   New Zealand Dollar / Swiss Franc
This broke above a major trendline last week and has now retraced to test the trendline again. If this continues to drop then it will just be a false breakout but momentum seems to be with this as NZD is strong at the moment and CHF has not been great. Looking for this to turn higher from current price or slightly lower at 0.382 Fibonacci. Also need to see EMA's cut back for long before entering a trade.

Target 0.66047 although there is resistance between current price and there so there could be some hold up in that area.
Comment: Im changing TP on this to 0.65562 which is equal to the previous high