NZDCHF--Weekly Market Outlook from 06 to 10 April 2020Follow me for more update and Analysis.
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Nzdchfshort
NZDCHF SHORT
In this video i show the levels that i am watching from a fundamental perspective for shorts on NZDCHF . The Nzd economy being dependent on the Chinese demand we know that it will continue to see weakness until the corona virus is curbed by china and the world health organization and as traders i believe this offers a good opportunity to capitalize.I paired the NZD pair with CHF because NZD is weak and CHF is a safe haven that inflates during global instability hence going into this week expect CHF strength and NZD weakness. I am hoping for a pull back to my levels of Resistance as those areas offer a good risk reward ration when shorting the pair.
NZDCHF approaching support, potential for a bounce!
NZDCHF is expected to drop to 1st support at 0.63243 where it could potentially react off and up to 1st resistance at 0.62992.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Trading Pathways Analysis of NZDCHF H4 ChartThe outlined white arrow pathway is the predicted pathway that the NZDCHF will follow in the coming days or weeks. Using my unique charting methods, I have been able to arrive at the exact turning points where NZDCHF will turn.
PLEASE NOTE THE ABOVE ANALYSIS IS FOR EDUCATIONAL PURPOSES ONLY. THEY ARE NOT DIRECT INSTRUCTIONS TO TRADE AND ANY LOSS INCURRED BY FOLLOWING THIS ANALYSIS IS AT YOUR OWN RISK.
Eiseprod of Trading Pathways
NZDCHF Long Trade Set upEven though I would agree we are still in an overall bearish trend.
Price has begun to stall at a support level, which previously acted as resistance on the Daily chart. This level also coincides with the 0.5 FIB level.
Target placed below previous high to take into account the overall bearish momentum.
Let me know what you think!
NZDCHF potential reversal!
NZDCHF expected to rise up to 1st resistance at 0.64278 where it could potentially react off and drop down to 1st support at 0.63785.
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NZDCHF to climb from upside confirmation, potential bounce!
NZDCHF to climb from its upside confirmation at 0.63968 where it could potentially bounce further to 0.64278.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
NZDCHF sell on H5Note : we have seen the price clearly breakdown the support level and now that level is becomes resistance, if you understand what I mean, this is a good call ;)
Plan : wait for prices to bounce off horizontal resistance --> wait for the rejection candle pattern to form e.g. bearish engulfing , pinbar etc --> SELL
**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 like i do, please write it in comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX