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NZD/CHF Potential Upward Movement

NZD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.65505, 0.65727, 0.66311.

Key Support Levels: 0.64666, 0.64120, 0.64000.

Daily Chart:

The price on the higher time frame failed to break a strong support level around the 0.64670 CHF mark where an engulfing bullish pattern has been posted. This indicates that the bulls took control and they might push the price to the upside toward the next key resistance level.

NZD/CHF Medium-Term Trend: Bullish

1-Hr Chart:

On the lower time frame, the price posted succeeded to break the bearish channel after the Wyckoff accumulation phase where the buyers managed to overwhelm the sellers. A lower correction could be seen before a new impulsive wave toward the target profits.

Signal Idea:

Buy Market Order @ 0.64850

TP 1 @ 0.65386

TP 2 @ 0.65727

Stop Loss @ 0.64650

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

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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