NZDCHF PA Range| .382 Fibonacci| Stoch Buy Cross| 21 EMA
Evening Traders,
Today’s analysis – NZDCHF- deviating back to range low where support is probable,
Points to consider,
- Price Action Impulsive
- Range Low Support
(.382 Fibonacci Confluence)
- 21 EMA Resistance
- RSI Bullish Control Zone
- Stochastic Buy Cross
NZDCHF’s immediate price action is trading towards Local S/R that has technical confluence with the .382 Fibonacci. A bounce here is highly probable, allowing for a bullish bias.
The 21 EMA is current dynamic resistance, breaching this in the immediate short term will show convicting in price action.
The RSI is trading in its bullish control zone, maintaining these levels are indicative of strength. Current stochastics has a valid bullish cross coming to fruition, confirmation will signal an immediate momentum shift.
Overall, in my opinion, NZDCHF is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“You never know what kind of setup market will present to you, your objective should be to find opportunity where risk reward ratio is best.”
― Jaymin Shah
Today’s analysis – NZDCHF- deviating back to range low where support is probable,
Points to consider,
- Price Action Impulsive
- Range Low Support
(.382 Fibonacci Confluence)
- 21 EMA Resistance
- RSI Bullish Control Zone
- Stochastic Buy Cross
NZDCHF’s immediate price action is trading towards Local S/R that has technical confluence with the .382 Fibonacci. A bounce here is highly probable, allowing for a bullish bias.
The 21 EMA is current dynamic resistance, breaching this in the immediate short term will show convicting in price action.
The RSI is trading in its bullish control zone, maintaining these levels are indicative of strength. Current stochastics has a valid bullish cross coming to fruition, confirmation will signal an immediate momentum shift.
Overall, in my opinion, NZDCHF is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“You never know what kind of setup market will present to you, your objective should be to find opportunity where risk reward ratio is best.”
― Jaymin Shah