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Nzdchflong

Long NZD/CHF breakout above 200W SMA Technical Analysis: - The pair has broken above 200-DMA at 0.6944 after breakout at major trendline resistance. - We see price action has broken out of daily cloud which is now strong support at 0.6927. - RSI strong above 60 levels and rising. - ADX above 25 levels and rising, +ve DMI dominance seen. - 200W SMA at 0.7015 is major resistance, break above will see further upside. Support levels - 0.6944 (200-DMA), 0.6938 (5-DMA), 0.6927 (cloud top) Resistance levels - 0.6998 (50% Fib retrace of 0.7290 to 0.6706 fall), 0.7015 (200W SMA), 0.7067 (61.8% Fib), 0.7117 (July 13 and Aug 15 high) Good to go long on break above 0.7015, SL: 0.6940, TP: 0.7065/ 0.7115/ 0.7140.
Long
by FxWirePro
NZD/CHF long setupNZD/CHF is consolidating bounce off major trendline support, holds break above 20-DMA at 0.6898. Kiwi is extending stellar quarterly NZ employment report led gains, while a big beat on the Chinese services PMI data for October also lends support to the antipodeans. Technical studies support upside in the pair. RSI and Stochs are biased higher. MACD is showing a bullish crossover on signal line and bullish divergence on RSI keeps scope for upside. Price action currently struggling to break 50-DMA resistance at 0.6938. Break there finds next bull target at 0.7004 (200-DMA). On the flipside, we see weakness in the pair closes below 20-DMA support at 0.6898. Support levels - 0.6898 (20-DMA), 0.6882 (5-DMA), 0.6790 (trendline) Resistance levels - 0.6938 (50-DMA), 0.70 (converged 100 & 200-DMA), 0.7020 (trendline) Goo d to go long on break above 0.6938, SL: 0.6890, TP: 0.70/ 0.7020
Long
by FxWirePro
NZDCHF: A Work in Progress Bullish Pattern ConstructionI believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or reversal. It requires attention and care. Rather than turning out to be a factory of producing signals, it is better to sit down and look for a setup. Setups are important because we are planning a trade and execute them on time. If you fail to plan a setup, then you are planning to fail. Another advantage of trade setup is that we know where to get out and the right time to go in. Know the market. Study the price movements and make your trades. My charts use price movements, patterns, structures and indicators such as moving averages and oscillators. Trading intelligence is combining multiple knowledge to produce a favorable trade setup and plans.
Long
by Dinkan