NZDCHF is approaching its resistance at 0.6728 (100% Fibonacci extension, 50% Fibonacci retracement , horizontal overlap resistance) where it could potentially reverse to its support at 0.6592 (61.8% Fibonacci retracement).
Stochastic (55, 5, 3) is testing its resistance at 99% where a corresponding reversal could occur.
Symbol: NZDCHF
Prediction : Short
Daily : We have a double top, a break of the last lower low, now we have a pullback on this level.
4H: With the fib extension we have our sell zone, which is between 100% and the résistance .
1H: The price is bullish, now we have a small deceleration, with a divergence on the MACD.
The best time to take a sell is when we...
The price on the NZD/CHF is moving in an ascending channel. However, the previous impulsive bearish trend leads me to believe that the pair could break to the downside. However, it is best to wait for a break before taking any investment decison
In NZD is Huge Sellers Pressure NZDCHF SELL OPEN NOW
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Like we clearly see price created a nice squeeze which can indicate a second touch of a new bullish channel.
-We have a reversal candle on support. (4h)
-Hammer on weekly.
If the price will be able to break that squeeze and fill our buy stop, we should see a nice bullish run.
D1 - Bearish convergence, we may now expect pullbacks in the form of double wave or a range.
H4 - Currently it looks like the pullback that we were looking for is happening in the form of double wave up.
If the price moves higher and reaches the critical zone with bearish divergence, we may then start looking for sells with more bearish evidences.
Technical Analysis for a SHORT:
Daily Downtrend, currently in a LH
Multiple Trendline Taps from Multiple Timeframes
H1 61.8 Golden Fib Retracement
Formed LH on H1
Bear MA Crossover
Broke Support
+Others
