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
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...
tp1: 0.6554 tp2: 0.6541 sl: 0.6587
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..
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
FX:NZDCHF Idea! Comment below if you have any idea or something to add up.
On the H4 chart of NZDCHF, it seems that the price is starting the 5th Elliott wave down after completing the 4th wave.
NZDCHF Sell Idea @Weekly Supply Zone (0.71638 - 0.72927) Sell Limit: 0.71597 Stop Loss: 0.73030 Take Profit: 0.69601
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...