AlkalineFX
Long

NZDCHF - Interesting Idea

FX:NZDCHF   New Zealand Dollar/Swiss Franc
Initially I thought we would see immediate rejection from the key daily supportive level marked but we didn't. I personally believe most retail traders would have been buying at the area using a tight stop loss. Now that banks have come in and driven the price down to SL hunt, they may have now gathered enough liquidity to drive prices higher. I will be waiting for a break and retest of this small resistance marked before considering a long position. If this set-up completes it could provide us with a great risk to reward trade.
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Comments

Have you looked at NZDCAD? What do you think?
Reply
AlkalineFX Taurusv29
@Taurusv29, Potentially the same scenario now it has broken back above that key level
+1 Reply
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