Price may fall down towards the support line of the channel as a result of reversal from resistance. Breaking of resistance will invalidate the analysis.
Price forming good correction and ready to make downward movement . Monitor price action and go short
NZDCHF has broken above the 50 and 200 EMA and has been in a consolidation for quite a while. As it finds its support and confirms it, we can expect a move higher up. This is a very probable continuation pattern. To be entered within the next 8-16 hours if everything goes as expected. *I'd personally let this short term push up happen and wait for the low test...
NZDCHF is heading down after bouncing off of the descending trendline and there are multiple ways to get involved A) which is more likely to happen and it would be also better to see the trend continuation or B) in case the price fail to push lower and comes back to test the higher resistance.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
I just noticed this beautiful H&S formation on the NZDCHF which completed a few days ago. My stop is at 0.69156 This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree...