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New Zealand Dollar/Swiss Franc

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NZDCHF trade ideas

NZDCHF: Sell signal just emerged.NZDCHF is trading inside a multi year Channel Down, evident on the 1W technical outlook, which is neutral (RSI = 47.618, MACD = -0.007, ADX = 23.111), despite the pause to the downtrend since August 17th. The 1D MA200 holds as an unbroken Resistance since January 31st. Based on the 1D MACD, the current pattern mimics May - June 2023 and is on the 0.618 Fibonacci test. On June 15th that was a sell signal as the price made a top and got rejected back to the Support. Consequently we are turning short, targeting the S1 level (TP = 0.51850). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
$100k Challenge - NZDCHF Short - Trade Review - E29 T1Hey all! So, we officially have this trade completely closed out. The market started to struggle to maintain a strong bearish momentum and ended up being unable to break the last low. After a while, it seems the buyers won the upper hand for the time being and the trade stopped out. Overall I consider this trade a great one as I held to the trading plan and kept the trade open until one of the two exit plans was executed. This time other than sharing my personal view on the position, we don't have much more to add, so the good ol' journal will just receive a status update for this trade.
by FernandoBorea
NZDCHF may be a "safe hideout" for tradersIf you think the world is not a safe place and looking for a place that traders may "hide out," you may want to check out the NZDCHF. The USDCHF is back at resistance, and with the CHF a traditional "safe haven" currency, it may reassert its role in the coming days. NZDUSD is trading heavy, and the NZD is usually regarded as a risk currency, especially in an unsure world like the one we live in now. The chart pattern here suggests that we are in an ascending wedge nearing the 38% retracement. While below the .5300 level, this may be a great short trade setup.
Short
by ForexAnalytixPipczar