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NZD/CHF Potential Upward Movement

NZD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.64970, 0.65451, 0.65500.

Key Support Levels: 0.64395, 0.63969, 0.63960.

Daily Chart:

The price on the higher time frame failed to break a strong support level around the 0.62440 USD mark and posted a bullish engulfing pattern which led to a reversal and a move higher. The market is posting higher highs and lows and succeeded to break the daily resistance (now support) around the 0.64395 USD level.

NZD/CHF Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price posted a two legs correction along with a bullish engulfing pattern signaling that the buyers are in control of the market. We expect further movement to the upside, but we will execute a buy limit order near the highlighted zone.

Signal Idea:

Buy Limit Order @ 0.64411

TP 1 @ 0.64958

TP 2 @ 0.65451

Stop Loss @ 0.64230

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.

One comment

  1. Good day Joe,
    I just came across your channel on YouTube and I did subscribe. I am from Nigeria, meaning that our time zone is not the same. I just saw a signal you gave for Tuesday and this is early hours of Wednesday here, my question is, “can this same signal work for me?” Thanks, I anticipate your kind reply.

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