NZDCHF BULLISH CONTINUATION SETUP WITH WAVES ANALYSIS
Price reversed from weekly support and broke out of midterm descending trendline and resistance zone.
Price has the potential to retest the broken resistance level that is lined up with 50.0 Fib ratio and moving averages as support to make an upside continuation move to the weekly descending trendline & resistance zone.
Considering that the correction has started, we will wait for it to complete and reach our confluence zone which is also a possible completion of the 4th wave of Elliot Waves pattern then look for the breakout of CTL for a long entry.
Safe trading!
Price has the potential to retest the broken resistance level that is lined up with 50.0 Fib ratio and moving averages as support to make an upside continuation move to the weekly descending trendline & resistance zone.
Considering that the correction has started, we will wait for it to complete and reach our confluence zone which is also a possible completion of the 4th wave of Elliot Waves pattern then look for the breakout of CTL for a long entry.
Safe trading!