FXHighway
Short

NZDCHF completes the bearish formation

FX:NZDCHF   New Zealand Dollar/Swiss Franc
41 1 2
Target: 0.6820
Risk: 0.7260

Technical Reasons:

The pair completed forming a double top pattern by breaking 0.7160 level, and it successfully retested this break, to activate the negative effect of this pattern.

The exponential moving averages 50 and 100 support the expected decline, and the pattern’s full targets reach 0.6820.

Stochastic is negative, reinforcing the expected bearish trend on the short term basis.


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FXHighway
2 years ago
Hovering around Target 2.. More bearish actions is on the way
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