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Weekly forecast New Zealand Dollar / Swiss Franc technical chart
Symbol NZDCHF

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.58546 to 0.59000). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.58546)
  • Ending of entry zone (0.59000)

DateOctober 1, 2022 - 21:27
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 0.59000 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • A peak is formed in daily chart at 0.60200 on 09/02/2022, so more losses to support(s) 0.54900, 0.53120, 0.52260 and more depths is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 22.

Take Profits:

  1. 0.57919
  2. 0.57054
  3. 0.55957
  4. 0.54900
  5. 0.53120
  6. 0.52260
Click on the level to view price action history.