Price is showing bearish momentum with bearish divergence is evident. We may see price break lower.
Stop loss - Red line
Take profit - Green line
Take profit level will be adjusted to how price reacts and moves.
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PREVIOUS LOW SUPPORT = 0.65517 (HELD FROM 29/MAY/2019)
LOWEST LOW SUPPORT = 0.65332 (FROM 23/MAY/2019)
With JP Morgan Vice President Of Global currency (Paul Meggyessi) has said "that in a recession, the NZ Dollar will be the worst performing major currency". He also stated that "the New Zealand Dollar lose and average, 7%-8% of it value.
Looking at the table...
HEY GUYS THANKS FOR THE FOLLOWS
NZDCHF IS GOOD FOR ENTRY - IM DONE WITH TRADING FOR THIS WEEK - IM A SWING TRADER I MAINLY JUST HOLD POSITIONS AND LET THEM PLAY OUT -HAVE A PROFITABLE WEEK AND A BLESSED WEEKEND
Technical Analysis for a SHORT:
Daily Downtrend, currently in a LH
Multiple Trendline Taps from Multiple Timeframes
H1 61.8 Golden Fib Retracement
Formed LH on H1
Bear MA Crossover
Price stalling after retesting the shown trend line, which is on top of a daily level and also key fib area. Very bearish long term market. Will wait for 4hr candle to close before entering, however if stays the same it'll give a high probability set up with a good risk to reward.