NZDCHF - Breakout Trade
I see an interesting reversal play to the upside on NZDCHF. This is a pure technicals play to trade the breakout on this week's session open.
- Price fails to push to new highs and signal the start of a potential downtrend.
- The massive selloff doesn't push price to new lows so we have a support formation.
- Moving average crossover is an early signal that near-term momentum is picking up to the upside.
- Upside breakout further supports... well, upside potential.
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