NZDCHF: Breakout Trade Explained

29 Kas 2022

Hey traders,

NZDCHF reached a key daily structure resistance.
The price formed a doji candle on that and dropped, then, forming a bearish engulfing candle.

On 4H time frame, the price broke and closed below a support line of a rising parallel channel.
Now, we see its retest.

I expect a bearish move to 0.584 / 0.585

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