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NZD/CHF Potential Upward Movement

NZD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.6440, 0.6500, 0.6550

Key Support Levels: 0.6385, 0.6317, 0.6300

Daily Chart:

The price on the higher time frame is traded inside a bearish channel formation. It posted at the lower end of this pattern a double bottom pattern which shows that a potential reversal might occur plus the pair failed to break a strong support around the

NZD/CHF Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price managed to break the bullish flag formation to the upside by posting a bullish head and shoulders. This led to a move higher but we expect a lower correction to the neckline of the H&S before the big move to the upside.

Signal Idea:

Buy Limit Order @ 0.6404

TP 1 @ 0.6437

TP 2 @ 0.6500

Stop Loss @ 0.6393

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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