FXtrades-gp

NZDCHF: A possible DOUBLE TOP Market Reversal (Signal)

Short
FX:NZDCHF   New Zealand Dollar/Swiss Franc
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🟢Forex Pair:
NZD/CHF

Technical Analysis:
Since the end of December 2020, the price has been following a clear uptrend until the main resistance zone at about 0.64350, getting a second rejection on the 26th of January 2021.
During this long period, the price reached few times its daily trendline and it is currently re-testing the same level.
The next price action around that zone will be essential to understand the next trend direction.

🔴Conclusion:
Few weeks ago, the price reached an important weekly resistance zone that rejected it many times is the past.
I believe that we could see an upcoming market reversal and I'll be waiting for a breakout of its trendline before planning my short position on this trade.

Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!

⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni

Comments

we are still above the daily support if we will manage to break below, then we can definitely melt, and I will join the move :)
+1 Reply
FXtrades-gp transparent-fx
@transparent-fx, all right! thanks for your opinion, I'm glad to receive a feedback from you! I think you're italian as well!
Let's see the next price action, it has currently got a nice opposite rejection!
Reply
Similar thoughts...All the best!!
+1 Reply
@abel11, regards! :)
Reply
Nice analysis
+1 Reply
FXtrades-gp Babenski
@Babenski, thanks a lot babenski! :)
Reply
simply brilliant
+1 Reply
FXtrades-gp Investroyllc
@Investroyllc, oh, I'm so glad to hear that! :)
Reply
Super clean set up mate. keep up the good work!!!@
+1 Reply
FXtrades-gp Fisher_Fx
@Fisher_Fx, thank you so much :)
Reply
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