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NZD/CHF Potential Upward Movement

NZD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.63858, 0.64170, 0.65000.

Key Support Levels: 0.63602, 0.63347, 0.63034.

Daily Time Frame:

The price on the higher time frame could not continue its move to the downside and faced a strong resistance which led to the formation of the double bottom pattern. A reversal occurred and the price is about to move higher again in the same direction of the main trend.

NZD/CHF Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a higher low formation. A lower correction has been posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Limit Order @ 0.63602

Target Profit 1 @ 0.63858

Target Profit 2 @ 0.64170

Stop Loss @ 0.63347

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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