FX618Analysis
Short

NZDCHF Aiming To Hit 0.63500 Level!

FOREXCOM:NZDCHF   New Zealand Dollar / Swiss Franc
Have a look at the main chart where the monthly TF shows the price confined in a long term triangle pattern which has been respected on numerous occasions, especially the upside trendline of the triangle. The EMA 50 has been respected too in this case and shall the monthly candle close below the 0.67000 level, we have a very good chance that this price will likely hit the next support that lies at 0.63500 level.

I am already SHORT on the NZDUSD and i will not risk taking this trade for another SHORT as they are both heavily correlated! Nonetheless its a very good trade and overall we are likely to see NZD and AUD both depreciate this year.

This just represents my outlook on this pair. shall i close the NZDUSD active trade early this pair would be my go to pair in the future. i will update the trade details if the criteria meets. cheers
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