NZD/CHF is falling towards the support level which is an overlap support that aligns with the 38.2% Fibonacci retracement and could potentially bounce from this level to our take profit.
Entry: 0.53942
Why we like it:
There is an overlap support level which aligns with the 38.2% Fibonacci retracement.
Stop loss: 0.53448
Why we like it:
There is a pullback...
The price confirmed a breakout and pullback on the support created with the consolidation zone, where we may witness a possible downside momentum in near future. Here I am expecting a bearish trend to be built towards the bottom level of support identified.
Hi Traders !
On Tuesday 16 April, The NZDCHF Reached The Support Level (0.53688 - 0.53442).
The Price Broke The Last Lower High (Choch).
So, I Predict a Bullish Move 📈.
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TARGET: 0.54520🎯
We are looking for the retracement over Fib(0.318) and a continuation starting from Fib(0.136) to the upside.
Plan is to risk a total of %1, so that 3x lots and 200 points (20 pips) SL should be equal to the %1 of your account.
Direct entry.
Hello,Friends!
The BB upper band is nearby so NZD-CHF is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 0.538.
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FX:NZDCHF
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A glimpse of the NZDCHF in the first half of 2024
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The price of NZDCHF will most likely collapse soon enough, due to the supply beginning to exceed demand which we can see by looking at the chart of the pair.
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Hello,Friends!
Bearish trend on NZD/CHF, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 0.537.
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H4, Price formed a lower low and lower high confirmation a bearish bias.
H1, Price have retraced into a resistance level after weekend swing, As price did not breakthrough the resistance level.
In M15 Price took a lower low & lower high, forming a downtrend consolidation. Taking short trade at the night line with a tight SL of 15pips only. Targeting H4 swing low
We are looking for major downsides going into the next week. Bearish bias and heavy downside has been presented. Looking for serious sell pressure to continue higher timeframe wick fill. This setup is not common which is why I am focused on trying to get the most optimum entry that I can get.
------------------- Technical Analysis: CHF/NZD ---------------------------
XABCD Harmonic Pattern Formation:
The CHF/NZD currency pair has recently exhibited the formation of an XABCD harmonic pattern, suggesting a potential reversal in price action. This pattern, characterized by specific Fibonacci ratios between consecutive price swings, has reached...
Hello,Friends!
Previous week’s green candle means that for us the NZD/CHF pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 0.535.
✅LIKE AND COMMENT MY IDEAS✅
Here is our detailed technical review for NZDCHF.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 0.538.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 0.534 level.
P.S
We...
