Hello and welcome to my Trade Idea of the currency pair NZD/CHF.
Lets start with the Top Down Analysis.
Monthly: Monthly is bearish although he has recovered the last 2 months.
Weekly: Weekly was in a long downtrend but now he has been in a pullback for 4 weeks. And our target is small anyway and with in the pullback.
Daily: If we're not zoom out too far,...
Fundamentally right now NZDCHF is bearish, but however if things manage to calm down around the world like we have seen this weekend with trump easing off of his trade war, Hong Kong rally being peaceful, and the FED likely to cut rates further should drive up NZDUSD. This in turn allows for RISK OFF moves to allow NZDCHF to move further up as well. However, if...
3 On Mt4
Hitting Trend Line
Inverted Head and Shoulder
Forming Morning Star
3 On 4hr, Daily, Weekly, 2 On Monthly *
Long Term Down Trend
Daily, Weekly, Monthly Divergence *
The only way it will hit SL if it breaks two trend lines, and a major support. Stop Loss could be set to .62350, I have it at 1 to 1 for a much higher chance of winning.
Reaching the specified PRZ range seems to be the appropriate range to reverse the downward movement of this currency pair. The profit margin is specified in the image. Given the declining pace, this analysis needs a trigger.
NZDCHF looks to be forming an inverse head and shoulder pattern at a monthly demand zone.
Price on the monthly chart suggests we could be seeing a higher low and that higher prices
could be likely. The CHF is getting weaker of recent and could continue here.