NZDCHF currency pair fall into a decision spot. This is is telling us posible trend reverse on H1 timeframe or bullish continuation from daily perspective.
If bearish move from H1 trending continuation will happen, we are looking price to break an important support level at 0.62560.
If bullish move from daily perspective will push price higher, then current spot is counted as third touch of daily/ h4 timeframe flow. If price will continue higher, then retracement from lower timeframe is expected before entering positions.
Why is this spot dangerous to trade at the moment?
This spot is dangerous to trade because we have confusion between strong daily buyers, price is still in buyers overall move and trending on h1 timeframe is showing potential bearish downside move.
Bullish target:
up to 0.63271 resistance level
Bearish targets:
T1: 0.61984
T2: 0.61449
If bearish move from H1 trending continuation will happen, we are looking price to break an important support level at 0.62560.
If bullish move from daily perspective will push price higher, then current spot is counted as third touch of daily/ h4 timeframe flow. If price will continue higher, then retracement from lower timeframe is expected before entering positions.
Why is this spot dangerous to trade at the moment?
This spot is dangerous to trade because we have confusion between strong daily buyers, price is still in buyers overall move and trending on h1 timeframe is showing potential bearish downside move.
Bullish target:
up to 0.63271 resistance level
Bearish targets:
T1: 0.61984
T2: 0.61449
