NZD-CHF
NZDCHF Short Look for re-test of .50 Fib, if it reaches this point I'll be shorting with some price action confirmation. Check chart.
NZDCHF approaching resistance, potential drop! NZDCHF is approaching our first resistance at 0.6735 (Horizontal pullback resistance , 100% fiboancci extension, 23.6% fiboancci retracement) and a strong drop might occur below this level pushing price down to our major support at 0.6618 (horizontal pullback support, 100% fiboancci extension, 50% fiboancci retracement).
RSI (89) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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Kiwi looks decisive to sustain gainsBy Andria Pichidi - December 18, 2018
NZDCHF presents similar action to NZDUSD, as the pair rebounded from December’s lows and is currently up by 75 pips. NZDCHF holds strong Support at the 200-day SMA since November 7, at 0.6740. Meanwhile, the fact that the 50-day SMA is sloping to the upside since October, while 200-day SMA has flattened the past month, could be interpreted as bullish bias in the near future, but with the risk of entering a ranging market in the medium term.
However, as the pair remains within the lower Bollinger Bands pattern in the daily frame, and as technical indicators are mixed, there is not a clear indication to the upside yet. If the pair sustains gains today above yesterday’s peak at 0.6790, therefore the near-term outlook would switch to a positive one, with next Resistance at 0.6875. Support remains at 200-day SMA 0.6740, while immediate one is at 0.6780.
NZDUSD recovered nearly 3-day losses, crossing above 20-day SMA and looking ready to form a bullish morning star pattern into today’s closing. The pair remains above 0.6750 level for the 6th consecutive week, suggesting that bulls persist on moving Kiwi higher. In the day chart, the overall picture remains positive, despite mix momentum indicators. RSI is configured positively above neutral zone, reflecting a positive bias, whilst MACD is flattened below signal line, remaining in the negative scenario for the pair with consolidation in the short term.
If the pair sustains today the 0.6850 (20-day SMA and above 200-day SMA), then the next Resistance area to be watched is the area between FE61.8 and the R2, at 0.6910-0.6920. Further gains could lead towards the 0.7000 barrier.
Andria Pichidi
Market Analyst
HotForex
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US Dollar Index again hits barrier at 97.71!The US Dollar Index had print higher on Friday by just 1 pip. It touched 97.71 levels before reversing lower again and is seen to be trading around 97.30 levels at this point in writing. It is too early to confirm a bearish reversal at this moment, but a break below 96.36 levels could be seen as a confirmation. Please also note that the next resistance is not too far; if bulls manage to break higher again 98.00/20 should be next in line for a bearish reaction. Looking at the wave counts, it is still working on a higher degree corrective drop (A)-(B)-(C), after producing an impulse rally between 88.30 through 103.80 levels. It remains to be seen how the lower degree counts unfold going forward. At this moment, we remain flat and will be looking to re-enter on confirmation. Either ways, US Dollar Index has limited upside with strong resistance coming in around 98.00/20 levels.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
EURJPY Approaching Resistance, Potential ReversalEURJPY is approaching its resistance at 129.14 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse to its support at 128.17 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
NZDCHF approaching support, potential bounce!NZDCHF is approaching our first support at 0.6788 (horizontal overlap support, 23.6%, 78.6% Fibonacci retracement , 100% Fibonacci extension ) where a strong bounce might occur above this level pushing price up to our major resistance at 0.6850 (50% Fibonacci retracement , horizontal swing high resistance ).
Stochastic (34,5,3) is also approaching support and we might see a corresponding bounce in price.
NZDCHF Bounced Off Support, Potential For Further RiseNZDCHF bounced off its support at 0.6785 (100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal swing low support) where it could potentially rise to its resistance at 0.6891 (61.8% Fibonacci extension , 76.4% Fibonacci retracement).
Stochastic (89, 5, 3) bounced off its support at 1.1% where a corresponding rise could occur.
NZDCHF approaching support, potential bounce!NZDCHF is approaching our first support at 0.6788 (horizontal overlap support, 23.6%, 78.6% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 0.6896 (76.4% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (21,5,3) is also approaching support and we might see a corresponding bounce in price.
EURAUD Approaching Resistance, Potential ReversalEURAUD is approaching its resistance at 1.5752 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 1.5498 (61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its resistance at 92% where a corresponding reversal could occur.
NZD/CHF (Daily Chart) - Bearish RSI DivergenceThis pair is starting to show some signs of bearishness after running into the long-term down trendline.
After nearly hitting 80 on the RSI (which shows some level of overbought), it now shows a bearish divergence which hints at further price weakness.
Hence there is a high chance we will be seeing some correction.
EURUSD carves a higher low at 1.1305 levels!The EURUSD is seen to be trading around 1.1360 levels at this point in writing after having carved a higher low at 1.1305, on Friday. Ideally, it should remain above 1.1213 levels going forward, to keep the medium term bullish structure intact. At a higher degree wave count, EURUSD seems to be unfolding into an (A)-(B)-(C) correction since mid August 2018, after producing 5 wave lower from 1.2550/60 levels earlier. Please note that the correction could be an expanded flat or a triangle and could terminate around 1.1650 or 1.1820 levels respectively. At a lower degree, Wave (C) is seen to be unfolding as an a-b-c structure, at the moment. If the above structure and counts should hold, we could witness a sharp rally towards at least 1.1650 levels. Overall, the medium term bullish structure remains for now.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
FxWirePro: NZD/CHF Trade Idea- Price action above cloud and major moving averages
- The pair has bounced off strong support at 0.6730 (nearly converged 21-EMA and 200-DMA)
- Momentum studies are bullish, RSI is at 71 with strong upside bias
- MACD is on verge of bullish crossover on signal line
- 5-DMA is immediate support at is sharply higher
Support levels - 0.6841 (5-DMA), 0.6817 (61.8% Fib), 0.6743 (200-DMA)
Resistance levels - 0.6952 (78.6% Fib), 0.6978 (June 14 high), 0.7032 (88.6% Fib)
Good to go long on dips around 0.6890, SL: 0.6830, TP: 0.6950/ 0.6980/ 0.7030
EURGBP Approaching Resistance, Potential ReversalEURGBP is approaching its resistance at 0.8927 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 0.8824 (38.2% Fibonacci retracement, horizontal swing low support). Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
NZD CHF BUY (NEW ZEALAND DOLLAR – SWISS FRANC)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
EURJPY Reversed Off Resistance, Potential For Further DropEURJPY reversed off its resistance at 129.30 (100% & 61.8% Fibonacci extension, horizontal swing high resistance) where it could potentially drop further to its support at 128.84 (76.4% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) reversed off near its resistance at 96% where a corresponding drop could occur.
EURGBP Approaching Resistance, Potential ReversalEURGBP is approaching its resistance at 0.8927 (100% Fibonacci extensionx2, 61.8% Fibonacci retracement , horizontal swing high resistance) where it could potentially reverse down to its support at 0.8824 (38.2% Fibonacci retracement , horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
EURUSD Approaching Resistance, Potential ReversalEURUSD is approaching its resistance at 1.1423 (76.4% & 61.8% Fibonacci extension , 76.4% Fibonacci retracement , horizontal swing high resistance) where it could potentially reverse down to its support at 1.1350 (50% Fibonacci retracement , horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur.
EURGBP Approaching Support, Potential BounceEURGBP is approaching its support at 0.8825 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.8876 (50% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) is approaching its support at 2.4% where a corresponding bounce could occur.
EURCAD Approaching Support, Potential BounceEURCAD is approaching its support at 1.4967 (61.8%& 100% Fibonacci extension, 50% & 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.5079 (61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (89, 5, 3) is approaching its support at 5.8% where a corresponding bounce could occur.
EURUSD Approaching Support, Potential BounceEURUSD is approaching its support at 1.1189 (100% & 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.1374 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 1.2% where a corresponding bounce could occur.
EURUSD carved a lower degree wave ii around 1.1330 ?The EURUSD dropped yesterday towards 1.1327 levels before closing the week at 1.1335 levels. Please note that potential remains for a drop towards 1.1312/15 levels, before resuming rally. Looking into the short term wave counts, it seems that a lower degree waves i and ii might be in place with wave i terminating around 1.1470/75, while wave ii at 1.1327 levels respectively. If the above counts hold true, we could see EURUSD rally up to 1.1650 and further as waves iii, iv and v unfold, within the larger Wave C and highlighted here on the daily chart view. An an alternate, Wave C could unfold into 3 waves as well turning the probability of a triangle. Overall, we maintain our bullish outlook for EURUSD until prices stay above 1.1213 levels.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
