This descending channel on NZDCHF seems to be getting respected, we will be trading withing the channel utilizing structure until we get a confirmed breakout.
According to COT Data Source - 62% are long
I am not entering this trade but feel free to do once you have done a thourough analysis yourself :) Looks like a double bottom that has formed and hopefully should keep rising. Comments and/or suggestions would be highly appreciated :)
. There is a possibility of temporary retracement to suggested support line (0.5965). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. NZDCHF is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
After a deceleration and change of structure, expect this pair to make a retracement back into the confluence area of support (former resistance) and the 38.2% Fibonacci level, and continue upwards. Target is taken from the weekly time frame
This is NCHF on the 4 hour. We could be seeing a reversal on this pair. Using parallel lines (which this pair tends to respond well to) we can make a case for NCHF being in a key value area. Before jumping in, we will need to wait for the market to give us clear confirmation. I would be looking to get involved at a clear rejection from the 4 hour, or if we see a...