My Current view of NZDCHF
We had a nice impulse on H4 TF. And now the flag formation is about to complete soon. Watch lower TF for PA to enter the market.
Broken channel, looking for a down movement www.tradingview.com nzdchf
Strong downtrend since the start of 2017, making lower highs. Price is locked into a strong downward channel based on the 4H chart Hidden divergence on the close of the 4H candle at 18:00 on 31st May shows the strong continuation of downward momentum. We see a possible Bearish Head & Shoulders pattern forming on the 4H chart. Fundamentals: The RBNZ...
Rationale for this trade is easy: a descending channel. The Swiss Franc came in strong yesterday being the best contender against USD and also fought against Euro despite its rally.
so after touch again the top line of the channel and complete ABCD pattern there it can start a move to the bottom line of channel and complete ABCD pattern there. we have a very strong support at the bottom line of channel
Hi Traders, Price is at a previous support and resistance zone which has been tested multiple times, wait for a bearish engulfing or evening star pattern on 4HR time frame, or a double top at a lower time frame. Once you get that confirmation it would be a good idea to go short and targets can be booked at next structure support 0.7000 and target 2 at...
Following this brief retracement my analysis is showing that the downtrend of NZDCHF will continue. NZDCHF continues to make new lows everyday.
We have a triangle pattern on the H4 chart. Price was rejected from the upper trendline of the triangle and it looks like we are heading to its bottom. Price is consolidating now if form of a wedge. Will be looking for sell at the break of this wedge/flag.
Price has formed a double top on the weekly and daily timeframe at a matching point with the weekly 61% fib (pink one) and monthly resitence (blue line) forming our matching point with a strong monthly PRZ and now price is retesting the 38% fib continuing the downtrend after the bullsih trendline break
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we are looking for a break to the downside on this pair as it has not been able to break the 0.71xx zone.. we are also coming off a downtrend and into a rising wedge ..
The NZD.CHF is one currency pair on this evenings watchlist. Once my entry criteria has been met we will set a sell stop order and await a clear break.