NZDCHF: Bearish Wedge Pattern in Play
NZDCHF: Bearish Wedge Pattern in Play
The NZDCHF pair completed a bearish wedge pattern, confirmed on Friday evening. The price is currently retesting the pattern, increasing the likelihood of NZDCHF continuing its downward movement.
A short-term target is set at 0.5147, corresponding to the previous low. Should the price move below this level, it is likely to test 0.5138 and 0.5110.
While there are some risks due to SNB speculations, given the Swiss National Bank's consistent support of the CHF whenever it loses value, the CHF could push the pair further down.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
The NZDCHF pair completed a bearish wedge pattern, confirmed on Friday evening. The price is currently retesting the pattern, increasing the likelihood of NZDCHF continuing its downward movement.
A short-term target is set at 0.5147, corresponding to the previous low. Should the price move below this level, it is likely to test 0.5138 and 0.5110.
While there are some risks due to SNB speculations, given the Swiss National Bank's consistent support of the CHF whenever it loses value, the CHF could push the pair further down.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Trade active
NZDCHF - target reached and it should move down more
Trade closed: target reached
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.