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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⚠️
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 :)
FXtrades-gp
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@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!