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.
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Thank you for your support ;)
GWBFX
Nzdchflong
NZDCHF Daily could have a long run . We pay attention on price Having a look on my chart on Renko, Heikin-Ashi , PSAR , LWMA 200,50,40,7 on
D,4H,1H I got a long entry signal .
CHF Unemployment rate increased to 3.4% during the time . Jan was 2.6%
GDP Growth rate decreased -2.6%
GDP Annual Growth rate decreased to -1.3%
Retail Sales decreased to -14.7%
NZD Unemployment rate increased to 4.2% is below Jan 2020 4.3% last month 4.2%
GDP Growth rate decreased to 0.5% is positive and is not minus
GDP Annual Growth rate decreased to 1.8% is still positive
Retail Sales desecrated to -0.7%
NZDCHF: waiting for correction before jumping inCommodity currencies are just squeezing up and it seems like there is more space to go...
Going long in NZD against CHF seems like an opportunity to participate in this move.
NZDCHF has broken key resistance level around 0.5985, which now turned into support and it might act as possible price for joining bulls with S/L around 0.5900 and T/P around 0.6375.
Obviously we might not get this price, but entering now would be more like jumping into a moving train.
Make your own analysis before entering position.
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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
NZDCHF LongWe can see on the chart that due to support and resistances, there is down trend in this case, but before it goes down the price will probably hit in this case lower resistance, and in another case the higher one but we will see that only if we wait to bumps off the lower resistance or it's going to break it.
NZDCHF Long Position In Near TermNZDCHF has been testing the current resistance of 0.59075 level in its strong upward move. It has already touched this resistance level FOUR TIMES! Yes, you read it right, four times! As can be seen in the chart, NZDCHF really seems determined to continue it's upward move. I expect the uptrend to continue, and for NZDCHF to touch the next resistance level of 0.59350, which is where I have placed my take-profit level.