NZDCHF Weekly S/R| Price Action| .618 Fibonacci| Trend

22 Oca 2022

Evening Traders,

Today’s analysis – NZDCHF – trading towards a key level where a bounce is probable,

Points to consider,
- Price Action Corrective
- Weekly S/R Support
- .618 Fibonacci Confluence
- RSI Extended
- Swing High Objective

NZDCHF’s immediate price action is trading towards a key trade location that has technical confluence with the Daily S/R and the .618 Fibonacci, allowing for a bullish bias.

The current swing high is the objective, exceeding this level will lead to a trend continuation.

The swing high is the objective, exceeding this level will lead to a trend reversal.

Overall, in my opinion, NZDCHF is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps,

Thank you for following my work

And remember,

‘’No one strategy is correct all the time’’.- John Paulson