Forex_signals
NZDCHF *WATCH OUT FOR THIS AUGUST* (BEARISH) (SHORT)PREVIOUS LOW SUPPORT = 0.65517 (HELD FROM 29/MAY/2019)
LOWEST LOW SUPPORT = 0.65332 (FROM 23/MAY/2019)
With JP Morgan Vice President Of Global currency (Paul Meggyessi) has said "that in a recession, the NZ Dollar will be the worst performing major currency". He also stated that "the New Zealand Dollar lose and average, 7%-8% of it value.
Looking at the table (chart) the bearish momentum started @0.68079 on the 30/apr/2019. It dropped 4.02% to its lowest support @0.65332 (23/may/2019). The NZD/CHF has broken the support @0.65517, if it breaks the support @0.65332. There could possibly be roughly another 3% of bearish momentum. Tha last time is reached these levels were in .....
25/AUG/2015
02/AUG/2011
these are all on the August month with a spacing of 4 years showing that there is a high possibilty there is more bearish movement to come and fast.
BULLISH MOMENTUM (NZD/CHF)Even though the NZD is still week, it has broken through the bearish trend and has started to form a bullish trend . Even though today (30/05/2019) has shown a massive bearish movement that nocked it -0.50% - -0.56% from a bullish morning that reached upto 0.65888 (+0.30%). It has bounced of the last support @0.65517 and fallen within the bullsih trend. this could be a good time to BUY as there is a lot of room for a good profit. As the bearish trend started on the 30 April 2019 and was @ 0.68113. So there is a lot of money to be made. If the market does not go in the direction then place you stop loss @0.65505. this is placing your risk at very small (0.08%) which is just below the last support as there is more bearish to go. Either way there is a lot of potential in this curreny pair.