NZD-CHF
NZD/CHF 1H Chart: Kiwi likely to retrace from channelThe New Zealand continued to extend its gains against the Swiss Franc during the first part of April. It peaked near the 0.7125 mark on April 13 prior to pushing back down to 0.6950 where the breached senior channel and a junior one are situated.
Meanwhile, technical indicators are located in the oversold territory. This suggests that the prevailing bearish sentiment could allay, thus allowing the pair to retrace from the aforementioned two channels. This surge might not be steep, given that several strong resistance clusters are limiting the pair up until the 0.7090 mark, including the 100– and 200-hour SMAs and the weekly PP circa 0.7050.
In terms of upside potential, the New Zealand Dollar should try approaching the upper boundary of the junior channel near 0.7180 during the following week.
Weekly forecast NZDCHF Right now we are on a strong S/R daily line where many past reversals occurred, and on top of that we have confluence with a monthly triangle that has been respected really well. Last week the price tried to break the triangle but it fell back into it. The price may be looking to retest the 0.70260 zone and go higher because it haven't done that yet and the market needs to follow structure.
I'll wait for the price to reach that zone to take any decision. I think it has a higher probability of going down path A to 0.68300 zone because of the confluence with the triangle and the break fakeout of last week.
NZDCHF Best Monthly opportunity!NZDCHF has touched the monthly resistance, i think we are near a good retracement, the target is the green line, stop loss very tight!
NZD/CHF Daily Update (11/1/18)0.705 Resistance zone
Waiting for more signs of rejection candle to shows signs of weakness.
Looking at the next support zone for taking profit.
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Up & DownNZDCHF is pushing to higher prices and the long term market pressure (+8.7) confirm the trend.
Also the short term market pressure confirm that the movement will start in short time (+11.7).
But be carefull at the level 0.70750 ! The cross can't beat some level of resistance without a serious retracement at level shown on chart.
This analysis is based on market pressure.
On my twitter profile twitter.com you can find everyday the market pressure value for all crosses.
Have a nice trading !
Long NZD/CHF breakout above 200W SMA Technical Analysis:
- The pair has broken above 200-DMA at 0.6944 after breakout at major trendline resistance.
- We see price action has broken out of daily cloud which is now strong support at 0.6927.
- RSI strong above 60 levels and rising.
- ADX above 25 levels and rising, +ve DMI dominance seen.
- 200W SMA at 0.7015 is major resistance, break above will see further upside.
Support levels - 0.6944 (200-DMA), 0.6938 (5-DMA), 0.6927 (cloud top)
Resistance levels - 0.6998 (50% Fib retrace of 0.7290 to 0.6706 fall), 0.7015 (200W SMA), 0.7067 (61.8% Fib), 0.7117 (July 13 and Aug 15 high)
Good to go long on break above 0.7015, SL: 0.6940, TP: 0.7065/ 0.7115/ 0.7140.
NZD/CHF 1H Chart: Pair faces strong supportNZD/CHF has been trading in a long-term channel down since mid-June. The pair’s latest test of its bottom boundary occurred five weeks ago.
The Kiwi has since been constrained in a channel up, while the most junior channel was formed within this pattern. It is expected that the New Zealand Dollar continues its current movement towards the senior channel located circa 0.7020 during the following two weeks.
In the short term, the pair is also likely to appreciate, given that it faces a strong support formed by the 55-, 100– and 200-hour SMAs, the monthly R1 and the weekly PP near the 0.69 mark. As a result, the short-term channel should be breached to the upside. The nearest resistance is set by the weekly R1 at 0.6985.
NZDCHF BREAKS DOWNTRENDAfter multiple retests and a fall breakout around 0.68400 we can expect a new bullish trend towards 0.71000.
NZD_CHF: Long & Short IdeaNZD_CHF: Support area created.
Going for long till reached the target.
Then another short at resistance is a good idea.
Bearish bias The cross still manteining a bearish bias
The long term market pressure -6.6 and short term market pressure -7.2 confirm the possibility of a breakout and lower prices soon
NZD/CHF 1H Chart: Kiwi tests two channelsNZD/CHF is currently trading in three channels. The senior one was formed mid-September, while the other two emerged only in November. The Kiwi bounced off the senior channel circa 0.6720 last week and has since entered a slight consolidation period.
The current situation shows that the rate is testing the boundaries of two opposing patterns which are likewise reinforced by the 55– and 100-hour SMAs.
Thus, two scenarios are possible. In case the bearish momentum prevails, the Kiwi should edge lower but with limited momentum, as the senior pattern and circa 0.67. The pair might subsequently trade sideways prior to a period of appreciation.
Conversely, the medium pattern might be breached already in this session; however, sharp increase could be hindered by the weekly PP and the 200-hour SMA circa 0.6788. A surge is likely to follow.
NZDCHF short for month of NovemberNZDCHF broke the moving average, suggesting a potential trend change. This in tandem with October's monthly bear candle gives me enough reason to believe a down trend is about to begin.
My orders are placed at fibonacci retracement levels 1.0, 78.6, 61.8, 50.0, 38.2, 23.6. and 0.0.
Each order contains a 30 pip stop loss and no take profit target.
These trades are designed to have 3 different exit strategies: 1) Stop out. 2) Manual closure. 3) End of month manual closure.
* End of month manual closure means that the month is over and trade parameters are no longer valid, therefore I will close the trades manually.
NZD/CHF long setupNZD/CHF is consolidating bounce off major trendline support, holds break above 20-DMA at 0.6898.
Kiwi is extending stellar quarterly NZ employment report led gains, while a big beat on the Chinese services PMI data for October also lends support to the antipodeans.
Technical studies support upside in the pair. RSI and Stochs are biased higher.
MACD is showing a bullish crossover on signal line and bullish divergence on RSI keeps scope for upside.
Price action currently struggling to break 50-DMA resistance at 0.6938. Break there finds next bull target at 0.7004 (200-DMA).
On the flipside, we see weakness in the pair closes below 20-DMA support at 0.6898.
Support levels - 0.6898 (20-DMA), 0.6882 (5-DMA), 0.6790 (trendline)
Resistance levels - 0.6938 (50-DMA), 0.70 (converged 100 & 200-DMA), 0.7020 (trendline)
Goo d to go long on break above 0.6938, SL: 0.6890, TP: 0.70/ 0.7020
