Technical Analysis – NZDCHF Sell Idea Follow Up

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NZDCHF Forecast And Technical Analysis

Hi Traders! NZDCHF sell idea follow up is here. On January 9th I shared with you this trade idea “Technical Analysis – NZDCHF Sell Trade Idea” this idea paid us amazingly and we had collected good profits with it. Based on the current scenario there are no evidences against the bears in this pair and it looks this the bears would continue its ride to the downside. So until we get any opposite evidence my view remains bearish here. As usual I will perform the multi-timeframe analysis and will explain the evidences that supports this bearish view.

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NZDCHF W1(Weekly) Chart Analysis – Downtrend Line, Bearish Hidden Divergence

On the weekly chart we have a downtrend line that has formed which acts as a dynamic resistance for us and the price is holding below it. Until the price holds below this dynamic resistance my view remains bearish here. In addition to this we also have a bearish hidden divergence that has formed between the first high at 0.66699 and the second high at 0.65510 based on the MACD indicator, we may consider this as an evidence of bearish pressure. We may now look for more evidences of bearish pressure on lower timeframes in order to join the bears.

Technical Analysis - NZDCHF Sell Idea Follow Up

 

 

NZDCHF D1(Daily) Chart Analysis – Bearish Convergence, Uptrend Line Breakout, ADX Indicator

On the daily chart the price has created a classical setup, we had a bearish divergence and then the price moved lower and created lower lows thus forming a bearish convergence for us, we may consider this as an evidence of bearish pressure. As per the book scenario we may now expect pullbacks to happen and currently it looks like a pullback is happening. Also in addition to this the ADX indicator gave bearish signal at the cross of -DI (red line) versus +DI (green line) and the main signal line (silver line) reads value over 25. So the bottom line here is that the daily chart has evidences which supports the bearish view.

Technical Analysis - NZDCHF Sell Idea Follow Up

 

 

NZDCHF H4 (4 Hours) Chart Analysis – Bearish Trend Pattern, Bearish Hidden Divergence

On the H4 chart the price which was moving lower had created a bearish trend pattern generally as per the book scenario we may now expect possible corrections to happen, currently the correction that we were looking for is happening. In addition to this we also have a bearish hidden divergence that has formed between the first high at 0.64716 and the second high at 0.64201 based on the MACD indicator which we may consider as an evidence of bearish pressure. We may now look for bearish setups with more bearish evidences (candle stick patterns, false breaks, trend line breakout etc…) in order to start looking for the sells.

Technical Analysis - NZDCHF Sell Idea Follow Up

Technical Analysis & Forecast Summary

Lets recap and summarize the analysis we had so far:

NZDCHF W1(Weekly) Chart Analysis:

  • Downtrend Line, Bearish Hidden Divergence

NZDCHF D1(Daily) Chart Analysis:

  • Bearish Convergence, Uptrend Line Breakout, ADX Indicator

NZDCHF H4 (4 Hours) Chart Analysis:

  • Bearish Trend Pattern, Bearish Hidden Divergence

Like these analysis?

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Technical Analysis - NZDCHF Sell Idea Follow Up

 

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Yours to your success

Vladimir Ribakov

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