Nzdchfforecast
NZDCHF bounced from support, potential for a further rise!
NZDCHF bounced off 0.63252 where it could potentially rise further to 0.64030.
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NZDCHF TO RESTEST AND FALL AGAIN
FX:NZDCHF - Price moved bearish and the corrected in a flat manner before breaking bearish again. Price is showing potential to hold on the support i have marked and then retrace at least 50% of the bearish move from when it broke from the flat correction before falling again.
Entry - Grey line
Take profit - Green line
Stop loss - Red line
Risk to reward - 1:2
NZDCHF approaching resistance, look out for potential reversal!
NZDCHF is approaching its resistance at 0.63148 where it is could reverse down to its support at 0.62119.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
NZDCHF approaching support, potential for a bounce!
NZDCHF is expected to drop to 1st support at 0.65686 where it could potentially react off and up to 1st resistance at 0.66132.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
NZDCHFAfter printing a hammer candle and closing at support yesterday the pair has broken the descending channel. It will face resistance again on the descending trendline but if that is broken the price can rally to the next resistance at 0.6720
We see in the 4H chart how the price has gone through the descending channel and has broken the structure. That is a very bullish sign.
NZDCHFPair reacted to the 50MA and continue its way lower. Since the 24th of June it made a big move upwards breaking he 0.659 area and that makes me be careful, the pair might gain strength again at the 0.651 area. If so we can trade both the corrective move and then the continuation to the upside.
MACD weakly supports the correction move .
4H chart shows both a H&S pattern and RSI losing strength as shown below.
NZDCHF IDEANZDCHF TRADE IDEA
SWING TRADE IDEA
UPDATE FROM LAST WEEK
WE'VE GOTTEN OUR BREAK OFF THE BOTTOM OF THE FLAG AND OUR TARGET 1 WAS HIT @ 0.65863 +76 PIPS FROM ENTRY POINT.
CONTINUE HOLDING TO OUR NEXT POINT OF TARGET WHICH WOULD BE @ 0.67043
TARGET 3 STILL IS GOING TO BE @ 0.68193
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ENTRY: 0.65099 (WAS A BUY STOP)
TARGET 1: 0.65863
TARGET 2: 0.67043
TARGET 3: 0.68193
STOP LOSS: 0.63760
_________________________________________________________________________________________________________________________________________________________________________
**PROPER RISK MANAGEMENT NEEDED**
**PAST CHARTS DO NOT GUARANTEE FUTURE CHARTS TO GO AS PLANNED**
NZDCHF IDEANZDCHF TRADE IDEA
SWING TRADE IDEA
AS THE FLAG ON THE WEEKLY CHART GETS HIT AND SUPPORT GETS TESTED.
AS THE MARKET COMES BACK UP TO 0.65099 WE CAN START TO SEE THE BREAK AND RISE ABOVE SUPPORT.
ENTRY: 0.65099 (BUY STOP)
TARGET 1: 0.65863
TARGET 2: 0.67043
TARGET 3: 0.68193
STOP LOSS: 0.63760
**PROPER RISK MANAGEMENT NEEDED**
**PAST CHARTS DO NOT GUARANTEE FUTURE CHARTS TO GO AS PLANNED**
POTENTIAL BEARISH MOVE ON NZDCHF Price is showing bearish momentum with bearish divergence is evident. We may see price break lower.
Stop loss - Red line
Take profit - Green line
1% Risk
Take profit level will be adjusted to how price reacts and moves.
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