NZD/CHFLong
ANALYSIS ON NZDCHF(SHORT TERM BUY)
The pair looks to have closed sharply to the downside with a bearish engulfing candle.
However we are only observing price respect the lower channel and establishing a third touch of the descending channel.
We will be observing for further confirmation for a short term buy to the 0.64000 area before we reverse to the downside.
However, If price does break the channel to the downside,or we observe any type of confluence to the downside such as a continuation pattern, this analysis will be deemed invalid and we will switch our bias to the downside.
However we are only observing price respect the lower channel and establishing a third touch of the descending channel.
We will be observing for further confirmation for a short term buy to the 0.64000 area before we reverse to the downside.
However, If price does break the channel to the downside,or we observe any type of confluence to the downside such as a continuation pattern, this analysis will be deemed invalid and we will switch our bias to the downside.
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