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Nzdchfanalysis

NZD/CHF - bearish momentum pushing price lowerNZD/CHF price has been within a respected descending weekly trend channel since 2017. Price did break out of this channel back in March as a result of the coronavirus pandemic, however, re-entered forming an ascending daily trend channel. Price did not retest the upper boundary of the weekly channel as price ran into resistance before that at 0.62 (the lows from September 2019), at which point price formed a lower high on the weekly time frame. After running into resistance from September 2019 lows and also the 50 DAY EMA, the daily trend channel was broken to the downside in Late-July. As a result, price has been on a bearish spiral ever since. After breaking strong support at 0.59693 we are expecting price to continue further to the downside as a result of the bearish momentum in the market, with an initial price target of 0.5890. A longer term target would be a retest of the lower boundary of the weekly channel at possibly 0.5750.
Short
by TheForexFellows
2
NZDCHF - Interesting IdeaInitially I thought we would see immediate rejection from the key daily supportive level marked but we didn't. I personally believe most retail traders would have been buying at the area using a tight stop loss. Now that banks have come in and driven the price down to SL hunt, they may have now gathered enough liquidity to drive prices higher. I will be waiting for a break and retest of this small resistance marked before considering a long position. If this set-up completes it could provide us with a great risk to reward trade.
Long
by AlkalineFX
2
NZDCHF Could Break Its Trend Resistance... NZDCHF managed to reject off a trend support level, with another 61.8 fib level retest. As we start seeing multiple retest on trend resistance, we have to keep in mind that the trend resistance will weaken and thus I will be seeing a potential breakout opportunity. We should always react to the market however if we see another rejection. As of now, I will be taking a good BULLISH trade to the trend resistance level. If we see a breakout, price level could go all the way up to 0.6547 price level which will be a rather strong resistance level to look out for. 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!!!
Long
by YGForex
NZDCHF long trade ideaPlan: resistance level and trendline 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
NZDCHF CAN GO BOTH SIDES.**ENG** - Price just reached our reversal area, we had an initial bias of a bullish position from this area, however price is currently very impulsive and can easily break. - If price starts to consolidate around this area, we would look for a bullish signal and enter long. - If price breaks this level, we would wait for the retest of the zone, and then enter short. **PT** - Preço a atingir a nossa zona de reversão, inicialmente tínhamos uma opinião bullish, no entanto devido ao quão impulsivo o preço se encontra, há uma enorme possibilidade de quebra. - Se o preço consolidar por volta desta zona, o melhor será aguardar por um sinal de subida e entrar em compra. - Se o preço quebrar esta zona de suporte, o melhor será aguardar pelo retest e entrar em venda.
by Wevesting