Daily Forex Update: NZD/CHF

By: Dima Chernovolov

NZD/CHF continues to fall inside the 4-hour Up Channel chart pattern which was previously identified by Autochartist. Autochartist rates the quality of this Up Channel at the 6-bar level – which is the result of the slow Initial Trend (5 bars), average Uniformity (5 bars) and strong Clarity (9 bars). NZD/CHF is expected to fall further inside this Up Channel – in line with the earlier downward reversal from the resistance area shown below.

As can be seen from the daily NZD/CHF below, the pair today reversed down from the resistance area lying between the key resistance level 0.6920 (which stopped the sharp uptrend in December) and the upper daily Bollinger Band. The proximity of this resistance area and the overbought daily Stochastic indicator increase the probability NZD/CHF will continue to fall inside this Up Channel.

To subscribe to the e-mail alerts feature is quick and easy. Log into the Autochartist platform, click on ‘Alerts & Messaging’, enter your email address, select the market you want covered, select your language, and the time you want to get your report, and you’re done! You will now receive a quick morning technical outlook of the markets.

 

For further information on this and other Autochartist products visit www.autochartist.com

 

Our Liquidity Providers

PHP Code Snippets Powered By : XYZScripts.com