NZDCHF has reached a very important demand zone .
we have a perfect confluence of 382 retracement / horizontal support / trendline .
I am watching a bear flag formation and will wait for a bullish breakout of it to buy the market.
target levels will be
for trend followers and swing traders, the...
NZD has shown strength recently resulted in a bouce off the upward trendline (and in total 3 times). SL has been placed under both this structure and the horizontal support.
Price is moving upwards in the medium term. Expecting price to eventually meet the longer term downward Trendline...
Looking for a Long (Buy) trade.
Will have to wait and see how this...
Not being greedy on this one as it looks a bit risky. Target is 50 points with a stop loss at 17.5 points.
Alternatively it might breakout of the current trendline and drop but on the 1H chart the RSI has turned and it looks to be bouncing off the lower trendline.