Hey folks, it’s a wrap to yet another month in the 2023 calendar, and I’m guessing you know what that means - time for another episode in the “What To Trade” series. For December, I will be mapping out trade more cautiously as the market volatility often drops
NZD/CHF formed a top
2019-11-11 • Updated
SELL at 0.6715; TP1 0.6625; TP2. 0.66; SL 0.6740
SELL at 0.6680; TP1 0.6650; TP2 0.6625; SL 0.6700
On W1, the advance of NZD/CHF stopped at the resistance line from 2017. The pair consolidated at the moving averages for some time but then turned lower guided by MACD.
NZD/CHF closed below 200-day MA at 0.6735 thus confirming a top. The targets of the pattern lie around 0.6590. Daily MACD is declining. The pair’s testing levels below 38.2% Fibo (0.6700). The next Fibonacci level lies at 0.6625.
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