NZD - BEARISH 1️⃣ Republican President Donald Trump and Democratic challenger Joe Biden faced off in their first presidential debate. 2️⃣ ANZ’s Business Confidence read slightly lower at -28.5%. CHF - BULLISH 1️⃣ A fresh wave of the global risk aversion trade as depicted by a steep fall in the equity markets, did little to boost the Swiss franc's perceived...
Good day guys.. Multi timeframe analysis Hour-01 Bullish engulfing Series of HH HL HH patterns Upside pressure Price above 200 EMA Price above Ichimoku cloud HOUR-4 Price above .618 Fibonacci Strong bullish candle Strong rejection around 0.60500 Price above 200 EMA Price above Ichimoku cloud DAILY Strong bullish engulfing Price above 200 EMA Price...
Let's finish off the week nicely with this lovely display of a structural shift.
Plan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent...
From the weekly view, this pair is in a downtrend where red line indicated. As we can see from the daily perspective, price was rejected around 0.6165+- few times as indicated by white line. I would more interesting in: sell limit around 0.6165+- around daily key level resistant and below weekly downtrend line (red) and; Sell order around 0.6080+- after sell...
Chart shows a drop to 59-60ish first to test next support level
If we look at NZD/CHF on a weekly we can see that it has a nice start to the W pattern. So the price at the end of the pattern is an area of 0.62550, which also coincides with the weekly trendline which is certainly not broken down. So our setup for this pair will definitely be long.
Price has been in a downtrend since before covid. Rejected monthly support on a higher timeframe. Below 50 & 200 ema. Rejecting golden fib zone which could also end up being wave E(after wave E a breakout normally occurs). -61.8% target also matches with W formation that hasn't been tested. Like and LMK your thoughts :-)
NZDCHF, for now, is unstoppable. the pair keeps falling without pullbacks breaking key daily levels. the next safe buy zone will be 0.5964 - 0.5934. this area is based on a horizontal daily structure, 618 retracement of the major bullish leg, and completion point of a harmonic bullish bat pattern. from that zone I will expect a pullback at least to 0.6024...
NZDCHF on the weekly chart is moving inside a huge descending channel. The price on the daily chart couldn't break the weekly resistance around 0.62 level. Recently the market created a double top and broke below the daily support at 0.60500. If the price will retest the daily structure and turn back into a bearsih outlook on the higher timeframe, we will set a...
Lets start off by looking at the current price action. We can see a nice double head pattern both rejected off the trend resistance level. We could see that price movement did obey this trendline closely with multiple rejections. Definitely, there is a small resistance level at 0.6045 but I believe such strong BEARISH outlook will give us a great short...