Hi Traders! We have NZDCHF bearish opportunity forming at the moment. A detailed analysis of this potential sell setup is as follows:
NZDCHF H4 Chart:
On the H4 chart we have a bearish hidden divergence that has formed which we may consider as an evidence of bearish pressure. Hence we may now look for more evidence of bearish pressure on lower timeframes in order to join the bears.
NZDCHF H1 Chart:
On the H1 chart the price has reached a critical zone and is currently moving lower. We had a bearish divergence and in addition to this we also have a good uptrend line that has formed and the price has currently reached this uptrend line. If we get a valid breakout here we may then consider this as an evidence of bearish pressure and then we may start looking for sells expecting further continuation lower.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.
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