Nice breakout of this strong support. Now we have to wait for a pull back. Set SELL LIMIT at 0.66500 SL 0.67300 TP1 0.65500 TP2 0.64900
Price is approaching our first resistance at 0.6722 (horizontal pullback resistance, 23.6% Fibonacci retracement , Elliot wave structure) and a strong reaction might occur below this level pushing price down to our major support at 0.6667 (horizontal swing low support, 100% Fibonacci extension ). Ichimoku cloud is also showing signs of bearish pressure in line...
NZDCHF is approaching our first resistance at 0.6722 (horizontal pullback resistance, 23.6% Fibonacci retracement, Elliot wave structure) and a strong reaction might occur below this level pushing price down to our major support at 0.6667 (horizontal swing low support, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure in line with...
NZDCHF is approaching our first resistance at 0.6720 (horizontal pullback resistance, 23.6% Fibonacci retracement) and a strong reaction might occur below this level pushing price down to our major support at 0.6667 (horizontal swing low support, 100% Fibonacci extension, Elliot wave structure). Ichimoku cloud is also showing signs of bearish pressure in line with...
looking on the daily chart for NZDCHF we are looking at a good setup for a short. This is a good set up for possible swing trade until next week or friday. will be keeping eyes on this going into the end of the week.
Price is between two important Support/Resistance Zones. In my opinion there is room to the downside.
2618 Trade on NZDCHF Time will tell of the opportunity we see, patience is key. Hopefully you found this helpful! If so please like or comment, your feedback is appreciated!
Technical Analysis: Bias Bearish - RSI and Stochs are biased lower, RSI below 50 - MACD shows bearish crossover on signal line - -ve DMI crossover on +ve DMI - Upside capped at 20-DMA (0.70) Support levels - 0.6933 (200-DMA), 0.6916 (cloud top), 0.6865 (61.8% Fib) Resistance levels - 0.7003 (20-DMA), 0.7025 (5-DMA), 0.7066 (Jan 23 high) Good to go short on...
As described in the chart. Can be used for scalping. DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
A strong probability for short trades.
NZDCHF trapped in a triangle where the next destination for price is DOWN. We can expect price to drop to 0.67300 with enough selling pressure and hopefully a retest of broken support.
Tried to explain in the chart. White Swan
Fundamental: CHF: Still an easing currency for now. However, SNB meeting today might change the current policy NZD: Easing currency with mostly weak data, and no new release scheduled for this week Technical: Price Action currently rejecting Fib 0.382 level, which is also the same as the weekly resistance level Note: Suggest to half your lot size due to SNB...
possible back to the trend line and below the cloud ...
All Trade Parameters shown on the chart.