NZDCHF Downfall Incoming...SHORT opportunity!!!
Lets start off by looking at the current price action. We can see a nice double head pattern both rejected off the trend resistance level. We could see that price movement did obey this trendline closely with multiple rejections. Definitely, there is a small resistance level at 0.6045 but I believe such strong BEARISH outlook will give us a great short opportunity. I do see a breakout to the upside but a short BULLISH movement is still possible retesting the trend resistance once more (lower head) before the BEARISH movement. As of now, this pair is looking rather BEARISH!!!
Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.