NZD/CHF Small Correction before moving higher
NZD/USD To make a small 20 pips Correction before moving Higher
TA Based on Candle Stick Patterns, Support & Resistance, Moving Avarage and Trend Lines.
Simple Clean Charting.
Nzdchfshort
NZD/CHF slumps to 29-month lows, bias still bearishNZD/CHF slumps to 29-month lows at 0.6454, trades with a major bearish bias.
Major trend is bearish, signs of minor pullback seen as mometum indicators approach oversold territory.
The pair is holding minor support at 0.6455 (falling trendline). 21-EMA is stif resistance. Break above could see extension of upside till 50-DMA.
Support levels - 0.6455 (trendline), 0.64, 0.6356 (61.8% Fib)
Resistance levels - 0.65, 0.6530 (5-DMA), 0.6587 (21-EMA)
Good to stay short on upticks. SL: 0.6590, TP: 0.64/ 0.6355
Shorting Opportunity for NZDCHF The price has hit the recent Supply Zone and what we see in 1 hr timeframe is that the price has broken down the DEMAND TRENDLINE
Waiting for pullback NZDCHF.Nice breakout of this strong support.
Now we have to wait for a pull back.
Set SELL LIMIT at 0.66500
SL 0.67300
TP1 0.65500
TP2 0.64900
NZDCHF approaching resistance, potential drop! 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 with our bearish bias.
Stochastic (21,5,3) is also approaching resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
NZDCHF approaching resistance, potential drop! 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 our bearish bias.
Stochastic (21,5,3) is also approaching resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
NZDCHF Approaching Resistance, Potential Drop! NZDCHF is approaching our first resistance at 0.6720 (horizontal pullback resistance, 23.6% Fibonacci retracement) 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, Elliot wave structure). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (89) is also approaching our resistance where a reaction below this level might see a corresponding drop in price.
descending triangle setup looking on the daily chart for NZDCHF we are looking at a good setup for a short. This is a good set up for possible swing trade until next week or friday. will be keeping eyes on this going into the end of the week.
NZDCHF - Short preferredPrice is between two important Support/Resistance Zones. In my opinion there is room to the downside.
NZDCHF / H4 / 2618 Trade on NZDCHF2618 Trade on NZDCHF
Time will tell of the opportunity we see, patience is key.
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NZD/CHF short setupTechnical Analysis: Bias Bearish
- RSI and Stochs are biased lower, RSI below 50
- MACD shows bearish crossover on signal line
- -ve DMI crossover on +ve DMI
- Upside capped at 20-DMA (0.70)
Support levels - 0.6933 (200-DMA), 0.6916 (cloud top), 0.6865 (61.8% Fib)
Resistance levels - 0.7003 (20-DMA), 0.7025 (5-DMA), 0.7066 (Jan 23 high)
Good to go short on rallies around 0.6970/80, SL: 0.7010, TP: 0.6935/ 0.69/ 0.6865.
NZDCHF Potential Short and Long OpportunityAs described in the chart.
Can be used for scalping.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
NZDCHF Possible BreakoutNZDCHF trapped in a triangle where the next destination for price is DOWN. We can expect price to drop to 0.67300 with enough selling pressure and hopefully a retest of broken support.
NZFCHF: High risk entry for SHORTFundamental:
CHF: Still an easing currency for now. However, SNB meeting today might change the current policy
NZD: Easing currency with mostly weak data, and no new release scheduled for this week
Technical:
Price Action currently rejecting Fib 0.382 level, which is also the same as the weekly resistance level
Note:
Suggest to half your lot size due to SNB meeting today
NZDCHF 12h Supply - Short in the context of a daily downtrendAll Trade Parameters shown on the chart.
