NZD/CHF BEARS ARE GAINING STRENGTH|SHORT
Hello,Friends!
It makes sense for us to go short on NZD/CHF right now from the resistance line above with the target of 0.540 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
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NZDCHF trade ideas
NZDCHF BEARISH CONTINUATIONPossible bearish continuation of the pair with the target of hitting the low made 29/02/2024.
If the price breaks and closes below the current low this could be a good low to look for rejections on retest for continuations lower.
Key Levels to note:
1. High made on 27/02/2023
2. Low made on 29/02/2024
3. Break below the above will be looking at the low made on 06/02/2024
4. Price should remain below 0.54315 to keep sell bias sin place.
Potential Bearish TriangleAs with the AUDCHF, we have almost a copy-and-paste triangle pattern, but on this NZDCHF, the market still looks to be constructing the leg 'd' of the triangle, if all factors hold on, we should see a dive to the rising Trendline and back up for wave 'e' before we see a full and free fall.
Firstly this pattern was spotted on March 7th, and the development is interesting.
Strictly this isn't an investment idea but aimed for education and learning the EW.
NZDCHFNZDCHF is in strong bullish trend.
As the market is consistently printing new HHs and HLs.
currently the market is retracing a bit after last HH, which is 50% Fib retracement level and local support as well. if the market successfully sustain this selling confluence the next leg lower could go for new HH.
What you guys think of this idea?
NZDCHF - Upside move ✅Hello traders!
‼️ This is my perspective on NZDCHF.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking for a long. I expect bullish price action from here as price mitigated bullish order block and could reject from institutional big figure 0.54000.
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NZD/CHF BEST PLACE TO SELL FROM|SHORT
Hello,Friends!
We are going short on the NZD/CHF with the target of 0.538 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band.However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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NZDCHF Will Move Lower! Short!
Here is our detailed technical review for NZDCHF.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 0.541.
Considering the today's price action, probabilities will be high to see a movement to 0.540.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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Bearish OpportunityPrice seems to find support at the top of the downward trend line, however the greater picture is still uptrend. I feel that upward momentum has started to become exhausted. Price is at the top of the KC and both 1h and 4h is overbought. RSI seems to confirm downward trend in my opnion.