- Price touched the resistance level for the third time, correlated with 0.5% Fibonacci level.
- Will be better waiting for a SHORT scenario a breakout
of rising wedge pattern to confirm a safe sell.
Regards, GoldfXcc Team
***Comment your thoughts down below!
Its Very High! Oscilators are showing that its too high!!! Im looking for a sell. and will draw a fib retracement from the daily bottom to the top and will find a take profit around the 50 percent retracent level for now.
But its not a sell yet! We have to wait for some kind of entry!
Trade Background:
Price continues to move higher alongside global equity market. The risk on we're seeing is causing the Swiss Franc, a currency known to be a safe heaven, to devalue since mid November. As price approaches final resistance level, look for a potential reversal. Keep in mind that the pair will most likely reverse alongside a broad global market...
Updated View On NZD/CHF (19 Nov 2019)
I am seeing a 'possible' rise on this pair. (Please see the arrow drawing)
At least do not short it at this moment, as it can rise further first.
DYODD, all the best and read the disclaimer too.
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Absolutely beautiful set up. Price coming into a MAJOR confluence area. Price converging at trendline, 200 EMA, strong resistance level. Shooting star forming on daily chart. To top it off, stoch showing momentum max level. What goes up must come down!!
