Pattern of Higher Lows on NZDCHF, Plus a Pullback.....

5 Ara 2014

NZDCHF has pulled back to support, its current price is above its upwardly-sloped 50 SMA, there is a pattern of higher lows, and a hammer candlestick pattern appears to be in place. Moreover, we are seeing signs of strength on other NZD pairs, most notably NZDCAD. In light of these factors, I'm going long at 75514, with my stop at 75061 and my target profit at 7741. This gives me a reward/risk of about 4.19.

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