NZD/CHF short potentially coming up. As long as the prices reject under the 4H 50 EMA this move is active.
If prices begins to find support and break the resistance then look for a short term buy back up.
Keeping an eye on this one as to how it will turn out.
Trade safe.
NZD/CHF is currently in a strong bearish momentum and is looking for a break further below.
As we can see from the candlesticks on the 4H chart and 1H chart, it hasn't been able to find support.
As it breaks the current price consolidation area, we can see it go down 35 more pips.
This is a quick day trade. Risk no more than 1-2% and wait for enough...
Support on top of 50 EMA seems to have been found after having broken it on the 4H chart.
If prices hold strong on top of the 50 EMA, we can see an upwards break of about 100 pips for the first wave.
Trade safe.
The price made a Double bottom on the weekly support, broke the 4h downtrend line, broke the consolidation with a strong bullish push. I`m waiting for the price retraction to go long!
I just noticed this beautiful H&S formation on the NZDCHF which completed a few days ago. My stop is at 0.69156
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree...
Strong downtrend since the start of 2017, making lower highs. Price is locked into a strong downward channel based on the 4H chart
Hidden divergence on the close of the 4H candle at 18:00 on 31st May shows the strong continuation of downward momentum.
We see a possible Bearish Head & Shoulders pattern forming on the 4H chart.
Fundamentals:
The RBNZ...
It looks solid long. Cash build up seems to have ended and Magic-T is pointing upwards. Trading currently above all the trend lines and the overall trend is long. There is a potential small profit of a couple of hundred pips, but the risk/reward is fair.
