NZD/CHF is breaking lower in line with dominant momentum.
The kiwi remains the weakest currency this quarter whilst RBNZ continue to send dovish signals to markets. As the Swiss franc is the second strongest major this quarter due to haven demand, we see potential for NZD/CHF to trade lower from current levels.
We can see on the daily chart that NZD/CHF has been...
This is to show you Nchf on a lower time frame. See the ending diagonal after it broke pitchfork, followed by reversal pattern? Now we got a small ending diagonal and it can come back down, possibly even breaking the low. It can also correct and then continue upside. But it is about reading price action and having a trading strategy. Right now, I am long and...
After a strong bearish move this last week breaking weekly support with a strong bearish engulfing weekly candle close, from here will be watching for price to make a pullback to retest broken structure / lower high for a trend continuation..
Price is approaching our first resistance at 0.6722 (horizontal pullback resistance, 23.6% Fibonacci retracement , Elliot wave structure) and a strong reaction might occur below this level pushing price down to our major support at 0.6667 (horizontal swing low support, 100% Fibonacci extension ). Ichimoku cloud is also showing signs of bearish pressure in line...
NZDCHF is approaching our first resistance at 0.6722 (horizontal pullback resistance, 23.6% Fibonacci retracement, Elliot wave structure) and a strong reaction might occur below this level pushing price down to our major support at 0.6667 (horizontal swing low support, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure in line with...
