🎈 Up Big Today: Find today's biggest gainers with our free screenerTry Stock Screener

Daily Forex Update: NZD/CHF

Published 03/20/2012, 07:11 AM
Updated 03/09/2019, 08:30 AM
NZD/CHF
-

NZD/CHF has recently completed the Triangle chart pattern identified by Autochartist on the 4-hour charts. The overall Quality of this chart pattern is rated at the 7 bar level as a result of the maximum Initial Trend (rated at the 10 bar level), below-average Uniformity (4 bars) and higher Clarity (7 bars). This chart pattern continues the prevailing downtrend visible on the weekly NZD/CHF charts. More specifically, this Triangle continues the preceding daily downward price impulse from the strong resistance area lying at the intersection of the horizontal resistance level 0.7700 and the 50% Fibonacci Retracement of the previous weekly downward price impulse from the July of 2007 to the March of 2009. The pair is expected to fall further in the direction of the Forecast Price 0.7460.
dailyfx1
The following weekly NZD/CHF chart highlights the aforementioned technical price levels:

Dailyfx2

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.