NZDCHF has broken out of descending trend line resistance in line and is pushing up towards horizontal swing high resistance in line with 161.8% Fibonacci retracement and 161.8% Fibonacci extension . If prices push past buy entry, prices might continue to push up towards horizontal swing high resistance in line with 61.8% FIbonacci retracement . If prices reverses from pivot , prices might push down towards 61.8% Fibonacci retracement and 100% Fibonacci extension . EMA is also below prices, showing a bullish pressure for prices.
Trading Recommendation
Entry: 0.69254
Reason for Entry:
Horizontal overlap resistance, 61.8% Fibonacci retracement, 127.2% Fibonacci extension
Take Profit: 0.68963
Reason for Take Profit:
Horizontal swing low support, 161.8% Fibonacci retracement, 78.6% Fibonacci extension
Stop Loss: 0.69442
Reason for Stop Loss:
Horizontal swing high resistance, 161.8% Fibonacci retracement, 161.8% Fibonacci extension
