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Nzdchfanalysis

NZDCHF Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of NZDCHF (Monthly, Weekly, Daily for direction and 4H for entry) for Week 42 - 12 Oct M > Market is moving in a downward channel with few breakouts. Price moved up to test previous support now turned monthly resistance and faced rejection. W > We can notice that price is facing rejection from supply zones that turn into resistance. Price moved up to face rejection in 1st week of June and supply zone created in last week of June that turned into resistance for price in August and September. Price is now at supply zone. D > Price created a double top at resistance level and dropped creating LH and LL. We saw a W formation and price dropped till neck to complete the formation and moved up to create next LH at previous demand zone. Price is now dropping down. As per COT NZD had closure of few Long and major Short increasing net positions, confirming strength of ZXY for the said week. Short positions have reduced to least in current year. ZXY has been gaining strength slowly since June 2020. ZXY improved its position last week. CHF saw closure of both Long and Short positions with Short position reducing to least for current year, increasing net positions marginally. SXY was strong for the said week. SXY further gained strength last week. 4H > Price is respecting support provided by downward trend-line. While testing the neck of W formation price dropped further till the trend-line and moved up. We can see H & S created by the price while moving upwards, price further moved up to creating a LH. We expect price to drop till support trend-line and its behaviour there will provide further target. Pair Correlation > NZDCHF has positive correlation with AUDCHF, CADJPY, NZDJPY, NZDCAD and NZDUSD and negative correlation with EURNZD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX
NZDCHF Potential Rejection...Downtrend!!!NZDCHF is in an overall downtrend several rejections showing us that NZDCHF respect this trend greatly and has been heading down slowly. Today's candle was interesting as this BULLISH candle could be a retest candle for NZDCHF, not showing any form of strength as of now. What I will like to see is a 0.6040 daily close to confirm a retest and a clean rejection for tomorrow's candle. If so, this could be a great BEARISH trade (able to keep a good risk to reward). Price could potentially move towards a trend support (dotted line). Any further updates will be updated in my group. As of now, I am seeing a good short opportunity!!! Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Short
by YGForex
3
NZDCHF Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of NZDCHF (Monthly, Weekly, Daily for direction and 4H for entry) for Week 41 - 06 Oct M > Market is moving in a downward channel with few breakouts. Price moved up to test previous support now turned monthly resistance and faced rejection. W > We can notice that price is facing rejection from supply zones that turn into resistance. Price moved up to face rejection in 1st week of June and supply zone created in last week of June turned into resistance for price in August and September. Price is now at supply zone. D > We saw a W formation and price dropped till neck to complete the formation and moved up. Price is now at daily supply level. We expect price to drop to test demand zone as 1st target. As per COT NZD saw addition of few Long and more Short reducing net positions, confirming weakness of NZD for the said week. ZXY improved its position last week. CHF saw closure of Long and addition of few Short positions reducing net positions. SXY was very weak for the said week. SXY was strong last week. 4H > Price is continuing to create HH and HL and we need to wait for reversal confirmation for trend to turn bearish. Pair Correlation > NZDCHF has positive correlation with NZDCAD, NZDUSD and AUDCHF and negative correlation with EURNZD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions. Thank You AP17FX
Short
by AP17FX
1
NZDCHF - SWING - 01.OCT.2020Good day guys.. Multi timeframe analysis Hour-01 Bullish engulfing Series of HH HL HH patterns Upside pressure Price above 200 EMA Price above Ichimoku cloud HOUR-4 Price above .618 Fibonacci Strong bullish candle Strong rejection around 0.60500 Price above 200 EMA Price above Ichimoku cloud DAILY Strong bullish engulfing Price above 200 EMA Price above Ichimoku cloud RSI above 50 Upward pressure NZDCHF-SWING TRADE BUY @ 0.61150 TP @ 0.62750 SL @ 0.59800 (Don't risk more than 1% of your capital) Follow our profile to get regular updates & Trade setups Donating via tradingview coins will help us to Make some valuable contents to trading our trading community
by forexorbit
NZDCHF long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
5
NZDCHF Downfall Incoming...SHORT opportunity!!!Lets start off by looking at the current price action. We can see a nice double head pattern both rejected off the trend resistance level. We could see that price movement did obey this trendline closely with multiple rejections. Definitely, there is a small resistance level at 0.6045 but I believe such strong BEARISH outlook will give us a great short opportunity. I do see a breakout to the upside but a short BULLISH movement is still possible retesting the trend resistance once more (lower head) before the BEARISH movement. As of now, this pair is looking rather BEARISH!!! Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Short
by YGForex
2
NZDCHF Long Trend is your Friend! 1. One Touch, Two Touch and Three Touches complete a trend. 2. EMA Acting as Dynamic Support 3. Market has entered an area of sensitivity @ 0.61000 also know as a psychological level where institutions place orders and take profit 4. Waiting for 3 four hour candles to show signs of rejection to place Buy order 5. I will buying at current Price Level @ 0.61000 Safe SL @ 0.60600 80% Partial TP @ 0.61800 10% Partial TP @ 0.6200 Remaining Trade TP @ 0.62400 Only 5% risk will be take for this trade
Long
by Mafora