NZDCHF is approaching its resistance at 0.63148 where it is could reverse down to its support at 0.62119.
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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.
Hello Traders, welcome to the Daily Forex technical analysis. Today is August 14th, 2019 and we will be taking a look at the New Zealand Dollar against the Swiss Frank. Looking at the 4 hour time frame price action is currently finding support near the .626 area. If we can find support at this region and break upwards we will look for the best entry long. Entry...