NZDCHF Short 1h chartI just took the NZDCHF Short 1h chart based on 4H and Daily chart.
I looks like the trend is gaining momentum (It has passed the 4H seller blue line) and going down toward the Daily Seller green line.
Nzdchfsetup
Short NZDCHF Longterm based on 4H + 1D Charts + FundamentalsStrong downtrend since the start of 2017, making lower highs. Price is locked into a strong downward channel based on the 4H chart
Hidden divergence on the close of the 4H candle at 18:00 on 31st May shows the strong continuation of downward momentum.
We see a possible Bearish Head & Shoulders pattern forming on the 4H chart.
Fundamentals:
The RBNZ disappointed some investors last month by remaining relatively dovish on interest rates despite some stronger local data. New Zealand’s interest rates are at record lows, and the central bank has suggested that monetary policy will remain accommodative for a considerable time based largely on the uncertain global picture. The Kiwi currency is still expected to remain weak with no interest rate hikes expected until early 2019.
The Swiss Franc (CHF), a noted safe-haven currency, continues to get stronger. Rising geopolitical tensions between the US and Russia have seen the Swiss Franc making strong gains, benefitting from an increased demand for safe-haven assets. If the deadlock over the Syrian conflict continues then the Franc could remain on a bullish trend , in spite of the threat of market intervention from the Swiss National Bank (SNB).
A 3.9 percent jump in exports in the three months through March helped push economic growth to 0.3 percent. While that fell short of the 0.5 percent forecast in a Bloomberg survey, it’s still the strongest performance in three quarters.
I will look to short the NZDCHF with my stop loss at the conservative 0.70142 rate.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
Swiss wizRationale for this trade is easy: a descending channel. The Swiss Franc came in strong yesterday being the best contender against USD and also fought against Euro despite its rally.
NZDCHF: A Work in Progress Bullish Pattern ConstructionI believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or reversal.
It requires attention and care. Rather than turning out to be a factory of producing signals, it is better to sit down and look for a setup. Setups are important because we are planning a trade and execute them on time. If you fail to plan a setup, then you are planning to fail.
Another advantage of trade setup is that we know where to get out and the right time to go in. Know the market. Study the price movements and make your trades.
My charts use price movements, patterns, structures and indicators such as moving averages and oscillators. Trading intelligence is combining multiple knowledge to produce a favorable trade setup and plans.
NZDCHF Trend continuationExpecting trend continuation on NZDCHF. Last week NZD was going lower but expecting to be stronger against CHF which is affected by eurozone weakness and low interest rates.
NZDCHF A quick flybyIt looks solid long. Cash build up seems to have ended and Magic-T is pointing upwards. Trading currently above all the trend lines and the overall trend is long. There is a potential small profit of a couple of hundred pips, but the risk/reward is fair.
NZDCHF POSSIBLE SCENARIO ! THIS IS THE POSSIBLE SCENARIO IN THE NZDCHF SCENARIO 1D CHART
IF IT BREAKS THE TRENDLINE AND SUPPORT PUT SELL ORDER @ 0.69000 AND TP @ 0.66500
NZDCHF: RSI + MACD + Structure support + falling wedge = LONG YOUR LIKE MATTERS : Give it a like if this has helped you in any way , follow for more ideas and daily updates.
