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Weekly forecast New Zealand Dollar / Swiss Franc technical chart

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.54600 to 0.54322). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (0.54600)
  • Ending of entry zone (0.54322)

DateMay 28, 2023 - 21:21
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.54322, beginning of uptrend is expected.
  • We make sure when the resistance at 0.56728 breaks.
  • If the support at 0.54322 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 0.56730 on 05/19/2023, so more losses to support(s) 0.54600 and minimum to Major Support (0.54322) 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 36.

Take Profits:

  1. 0.55440
  2. 0.56195
  3. 0.57898
  4. 0.59000
  5. 0.60187
  6. 0.60986
  7. 0.61793
  8. 0.63792
  9. 0.65051
  10. 0.66314
Click on the level to view price action history.