NZD-CHF
NZD/CHFNothing has changed on my NCHF analysis. Nchf and Nzd/Jpy coming off pitchforks right now. We can still get a 3 wave and one more down, but I feel strongly (considering the correlations and how far Nzd/Usd extended in relation to those other 2) that there will be a large swing up. But also keep in mind the time frame I am showing you. Along with the lack of a weekly "wick" at this juncture.
NZDCHF approaching resistance, potential drop! Price is approaching our first resistance at 0.6722 (horizontal pullback resistance, 23.6% Fibonacci retracement , Elliot wave structure) and a strong reaction might occur below this level pushing price down to our major support at 0.6667 (horizontal swing low support, 100% Fibonacci extension ). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
Stochastic (21,5,3) is also approaching resistance and a reaction below this level might see a corresponding drop in price.
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NZDCHF approaching resistance, potential drop! NZDCHF is approaching our first resistance at 0.6722 (horizontal pullback resistance, 23.6% Fibonacci retracement, Elliot wave structure) and a strong reaction might occur below this level pushing price down to our major support at 0.6667 (horizontal swing low support, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
Stochastic (21,5,3) is also approaching resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
NZD/CHF 7 swing-WeeklyThis is why I am looking at it like that. As long as it keeps following this pattern I can trade it. The next sell would be very nice if it makes a corrective move up.
NZDCHF Approaching Resistance, Potential Drop! NZDCHF is approaching our first resistance at 0.6720 (horizontal pullback resistance, 23.6% Fibonacci retracement) and a strong reaction might occur below this level pushing price down to our major support at 0.6667 (horizontal swing low support, 100% Fibonacci extension, Elliot wave structure). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (89) is also approaching our resistance where a reaction below this level might see a corresponding drop in price.
Shorting the retrace on NZD/CHFTrade setup:
- Great run on the daily for NZD/CHF with some 1% up.
- Retrace bound to happen, just being denied at previous resistance level.
Reasons for trade
Chart
- Price overextended for a one day run, bound to retrace
- Denied at previous resistance level, which coincides to be R2 on chart
- Slight double top formation
Oscillators
- RSI sitting at around 70 on the 1 hr chart, which almost always means turnaround
- Stochastic topped out.
- Both indicators show bearish divergence
Entry
- Just entered, as close as R2 .67940 as possible
Exit
-Would enjoy some input. Dabbling between more conservative and more aggressive targets. Either .67750 or .67540
- Big move implies big retrace
Stop
-Been losing so many good trades due to weak stop losses, putting this one .68050, a good 11 pips above the top resistance level.
-Input appreciated on this one
Lower High made. Bearish continuation. Short.NZDCHF was emphatically rejected today near 0.6800 creating a new Channel Down on 4H (Highs/Lows = -0.0022, B/BP = -0.0038, ADX = 38.054). The imposing long term trend is bearish anyway within the larger 1D Channel Down (RSI = 40.209), which near its median is on neutral Williams, CCI, Highs/Lows. This will either pull the price lower starting now, or near 0.68400. We are already short (TP = 0.66892, 0.66262 in extension) and will add an additional short near 0.68400 if needed.
NZD/CHF 1H Chart: Kiwi tests trend-lineThe New Zealand Dollar has gained momentum against the Swiss Franc since May 29. At the time, the Kiwi reversed from the bottom boundary of a medium-term wedge near 0.6820. The pair has been trading sideways along a downward-sloping trend-line which was formed early in April.
It seems that the given line might be breached today. This should result in a continuous surge until the upper channel boundary is reached circa 0.7000. The upper wedge line, is likewise located there. Technical indicators flash mixed signals, so the bearish scenario should likewise be considered.
In case the pair breaches all three SMAs on both the 1H and 4H time-frames near 0.69, it is likely that the Kiwi returns to the lower wedge boundary or the monthly S1 at 0.6850 and 0.6795, respectively.
NZD/CHF updateI posted the sell setup on Nchf and tried to explain the possible scenarios and showed you the area it might buy from. well, it shot off the 50% retrace fib. I would just like to point out when they consolidate at a trend line like that on the daily, they usually break out... It has a pattern that could have gone either way near term. The weekly looked like downside but we will probably at least get a 1-2-3 if it is moving in a downward direction... It doesn't have to be. it comes down to trading the setups based off price action. It can be making a combo swing pattern moving in an upward direction. I suggest you watch my live stream I will do this afternoon 6/8.
NZD/CHF 1H Chart: Kiwi consolidatesThe New Zealand Dollar has been weakening against the Swiss Franc in a steep channel down. This movement has been likewise bounded by a two-month channel. The pair tested the senior pattern last week and subsequently entered a minor period of consolidation.
The pair’s positioning in the aforementioned senior pattern suggests that the Kiwi could eventually pick up momentum and target its upper line, the nearby-located 38.20% Fibonacci retracement and the monthly PP circa 0.6980. It is likely that this resistance surrenders and thus allows for further advance. Technical indicators demonstrate that this surge might occur in a week’s time.
In the meantime, some downward potential is still apparent in the market during the following sessions. This fall, however, should not be significant, as the monthly and weekly S1s and a channel line are located at 0.6850.
NZDCHF seeing major support, potential for a nice bounce!NZDCHF is seeing major support at 0.6858 (Fibonacci extension, bullish harmonic formation, horizontal swing low support) and a strong bounce could occur at this level to push prices up to major resistance at 0.6929 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).
Stochastic (55,5,3) is seeing major support above 2.7% where a corresponding bounce could occur.
Ready to fallThe long direction reatracement has finished.
During the night the Long Term market pressure still negative (-1.1)
Today the cross seems ready to start the dip
The analysis of others NZD crosses confirms the downtrend of NZD.
This analysis is based on market pressure.
To know more about market pressure and receive a free daily hints for all crosses visit my twitter profile.
You can find the link in my tradingview profile at www.tradingview.com near the name
Have a nice trading !
Buying Low to .71Price is bouncing back, hoping to reach resistance at .71, to follow the major daily trend
NZD/CHF long setupNZD/CHF is extending upside after bouncing off 200-DMA at 0.6930, bias higher.
Price is hovering around 78.6% Fib retrace of 0.7094 to 0.6737 fall at 0.7018, breakout above will see further upside.
Technical studies are supporting further gains in the pair. RSI is above 50 levels and biased higher.
Stochs are showing a rollover from oversold levels and we see +ve DMI crossover on -ve DMI.
Break above 78.6% Fib finds next major resistance at 88.6% Fib at 0.7053.
On the flipside, we see strong support at 0.6960 (nearly converged 61.8% Fib and trendline). Weakness likely on break below.
We see bullish invalidation only below 200-DMA at 0.6930.
Support levels - 0.6990 (5-DMA), 0.6960 (nearly converged 61.8% Fib and trendline), 0.6930 (200-DMA)
Resistance levels - 0.7018 (78.6% Fib), 0.7053 (88.6% Fib), 0.71
Good to go long on break above 78.6% Fib) at 0.7018, SL: 0.6960, TP: 0.7050/ 0.71/ 0.7125
Buy to .71Basing this trade off the major trend. Price hit a major support at .694
Price broke above minor support and has sustained that level.
Prior daily candle was bullish engulfing the previous one
