Thread: Nzd/Chf
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Spoiler:
1. Trend analysis today with sma system:
sma 16 as short term trend indicator = down
sma 96 as medium term trend indicator = down
sma 480 as long term trend indicator = down
So the trend is down strong.
2. Pivot,ressistance and support level this day:
p: 0.7257
r1: 0.7276
r2: 0.7300
r3: 0.7319
s1: 0.7233
s2: 0.7214
s3: 0.7190
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In asian session now sma 16 has been crossing down sma 96 that indicates there will be a further decline in this pair for medium term. Price has also break dayly pivot level (0.7267).
Looking at the included chart , the pair is moving down and i predict that it will continue moving down till reaching the support level @ 0.7247 (0.0%) , i suggest to sell the pair with this target then buy it when reaching the support level , i expect it to reverse its direction and move up till reaching the downtrend again as indicated on the chart , Good Luck
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from H4 chart shown , i think the support level at 0% will push the pair upward again in next few hours till reach fibo level 23.6 % and make retest , so i suggest buying now with stop lose -10 pips below this level ,
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hmmm im havent trade this pair before , this pair got a huge spread level and less volatility but if we looked at the nzdusd this pair is heading down like the main pair , so for me sell at bounce
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From H4 chart shown , i think after the pair break the down channel there and close above it , it will continue in up direction by 40 pips upward as also we have a support level at 100% so buy at 0.7420 .
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After it reach the trad line just watch for several candlestick to enter the sell again and the projection will below the support line within 600 area.Forex market is nice trading market
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The pair is starting now to make a downtrend line as shown in the H4 Chart , the pair was moving down till facing the resistance level @ 0.7419 then it corrected its direction and went up , now the pair became close for the downtrend line so i think it will go down again , if it broke the trend line we can buy with target points @ 0.7497 , 0.7506
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From H4 chart , the pair is moving with up trend started from 21 mar and the pair now is testing the support level 50 % so if the pair close above this level it will continue upward till reach 38.2 % , and if break this level it will move down till reach the up trend and make retest .
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This pair is alternating between the various resistance levels as we see in the chart , we can notice that the pair now is facing the resistance level @ 0.7495 , however i don't think it will move down as it was going down on the last short term , we can wait for this pair to beyond that resistance level and if done we can buy with target points @ 0.7541 on the short term or @ 0.7568 on the long term . Good Luck
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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