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NZD-CHF

NZDCHF approaching support, potential bounce! NZDCHF is approaching our first support at 0.6714 (horizontal overlap support, 50% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 0.6789 (38.2% fiboancci retracement). Stochastic (89,5,3) is approaching support and we might see a corresponding rise in price should it bounce off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
NZDCHF Rally is losing momentum? We shall seeGood day everyone, As we can see NZDCHF has been on a good rally from the .66 zone and now looks like its losing momentum. Now lets be clear, im not calling a short position, not yet, the price can just be consolidating and making a throwback before the rally goes on. As we can see, despite the price is reaching some resistance zone now (W timeframe), we can clearly see that the "perfect" resistance is at .70 zone where we have not only the psichological level but a lot of confluences like montly R1 and 200 weekly SMA. If we look at our bottom right panel, its NZD FUTURES, check it and see its approaching a resistance zone as well and going overbought on RSI. Now, if you want to do a short scalper with a tight S.L based on overbought RSI on multiple timeframes its ok, but i personally dont like these kind of trade . So what im going to do? For going short i'll either wait a breakdown and pullback from our ascending trendline H4 OR (best option) the price reach .70 level and wait a reversion signal and target .382 (and close to 200SMA daily) and .50 fibo from .66000 zone to current high. For long position i'd wait a pullback before going long, the target is .70000 zone, period. So the strategy for now is WAIT and keep a close look to price action =) This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
by MarcelMartins
1
NZDCHF approaching support, potential bounce! NZDCHF is approaching our first support level at 0.6714 (horizontal overlap support, 50% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 0.6789 (38.2% Fibonacci retracement). Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
NZDCHF Reversed Off Resistance, Prepare For Further DropNZDCHF reversed off its resistance where we expect to see a further drop. NZDCHF reversed off its resistance at 0.69194 (61.8% Fibonacci extension , 61.8% & 76.4% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 0.6651 (61.8% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap support). Stochastic (34, 5, 3) reversed off its resistance where a corresponding drop is expected. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Short
by Klimex
NZDCHF approaching support, potential bounce!NZDCHF is approaching our first support at 0.6763 (horizontal swing low support, 61.8% & 38.2% Fibonacci retracement ) and a strong bounce might occur below this level pushing price up to our major resistance at 0.6850 (61.8% Fibonacci extension, 61.8% Fibonacci retracement ). Stochastic (89, 5, 3) is approaching its support where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Long
by Klimex
NZDCHF | Strong Resistance Area!Hey! Despite CHF "crash", NZDCHF offers us a trade opportunity - SELL trade criteria: - Two trendlines should act as a resistance. The fat black line is more important than the tiny one above of it. - The orange line should act as a resistance level - The round number just above those levels 0.69000, which also should act as a resistance and it also should work as a fake out "brake" above the mentioned trendlines. - The upwards channel upper trendline should react as resistance. It looks like pretty strong price levels because several price action criteria matching each other in one area. Perfect entry would be 0.69000 but wait for rejection from smaller timeframes. Please, do not forget to support my idea post by hitting the "LIKE button! Thank You very much! Cheers! *This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by VaidoVeek
NZDCHF approaching support, potential bounce! NZDCHF is approaching our first support at 0.6684 (horizontal swing low support, 100% Fibonacci extension, 50% & 38.2 % Fibonacci retracement) and a strong bounce might occur below this level pushing price up to our major resistance at 0.6748 (61.8% Fibonacci retracement , horizontal overlap resistance). Stochastic (55,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level. Trading CFDs on margin carries high risk.
Long
by Klimex
NZDCHF approaching resistance, potential drop!NZDCHF is approaching our first resistance at 0.6819 (61.8% Fibonacci extension, 61.8% Fibonacci retracement) where we might see a drop in price to our first support at 0.6532 (61.8% Fibonacci extension, Horizontal swing low support). Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Short
by Klimex
NZDCHF approaching resistance, potential drop!0.6819 (61.8% Fibonacci retracement , 61.8% Fibonacci extension)where we might see a drop in price to our first support at 0.6514 ( 76.4% Fibonacci retracement , 61.8% Fibonacci extension, horizontal swing low support ). Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Short
by Klimex
NZDCHF approaching resistance, potential drop! NZDCHF is approaching our first resistance at 0.6742 (Horizontal pullback resistance, 50% Fibonacci retracement, 100% Fiboancci extension) and a strong drop might occur pushing price down to our major support at 0.6591 (Horizontal swing low support). Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill