NZDCHF is approaching our first support at 0.6684 (horizontal swing low support, 100% Fibonacci extension, 50% & 38.2 % Fibonacci retracement) and a strong bounce might occur below this level pushing price up to our major resistance at 0.6748 (61.8% Fibonacci retracement , horizontal overlap resistance).
Stochastic (55,5,3) is also approaching support and we...
NZDCHF is approaching our first resistance at 0.6819 (61.8% Fibonacci extension, 61.8% Fibonacci retracement) where we might see a drop in price to our first support at 0.6532 (61.8% Fibonacci extension, Horizontal swing low support).
Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this...
NZD/CHF pair is extending 200-DMA breakout, bias bullish.
Next major bull target lies at 61.8% Fib at 0.6812 ahead of 0.6847 (Dec 12 high).
On the flipside, 200-DMA is major support at 0.6708. Retrace below will negate the bullish bias.
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 approaching our first resistance at 0.6742 (Horizontal pullback resistance, 50% Fibonacci retracement, 100% Fiboancci extension) and a strong drop might occur pushing price down to our major support at 0.6591 (Horizontal swing low support).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react...
Hi traders, this pair has been moving in an uptrend channel and is now above 200 EMA which give use the probability to believe that it can further move upwards.
Good luck and Trade Green!
After the 5 wave cycle completion, there was a down impulse which can be identified as wave A in a bearish ABC zigzag. Planning to go short in case of the price correction to 61.8% Fibo level of recent impulse with SL on the top of wave 5.
NZDCHF reversed off its resistance at 0.6747 (100% Fibonacci extension , 50% Fibonacci retracement , horizontal overlap resistance) where it could potentially drop further to its support at 0.6656 (38.2% Fibonacci retracement).
Stochastic (55, 5, 3) reversed off its resistance at 99% where a further drop could occur.
Hi traders, this pair is now on a daily resistance zone and is giving some selling pressure around this area so we can expect a fall downwards from here.
