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NZD/CHF Potential Upward Movement

NZD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.63033, 0.63324, 0.63640.

Key Support Levels: 0.62519, 0.61905, 0.61000.

Daily Time Frame:

The price on the higher time frame failed to continue its downward movement below the strong support around the 0.62507 CHF mark where a huge bodied bullish bar has been left. We expect to see a new trend to the upside after this move.

NZD/CHF Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the price succeeded to break the bearish to the upside with the help of the higher lows. this shows that the market is in a clear control by the bulls. A lower correction to the highlighted zone could be seen before a new bullish impulsive wave.

Signal Idea:

Buy Limit Order @ 0.62548

TP 1 @ 0.63033

TP 2 @ 0.63324

Stop Loss @ 0.62306

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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