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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 Buy Zone (0.51999 to 0.51733). 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 (0.51999)
  • Ending of entry zone (0.51733)

DateDecember 3, 2023 - 07:12
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.51733, beginning of uptrend is expected.
  • We make sure when the resistance at 0.55000 breaks.
  • If the support at 0.51733 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The double bottoms taking shape.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 0.52725 on 11/14/2023, so more gains to resistance(s) 0.54322 and maximum to Major Resistance (0.55000) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 61.

Take Profits:

  1. 0.53020
  2. 0.53647
  3. 0.54322
  4. 0.55000
  5. 0.55762
  6. 0.56728
  7. 0.57630
  8. 0.58900
  9. 0.60187
  10. 0.65051
Click on the level to view price action history.