NZDCHF: Waiting for the uptrend to resume
In this pair we see a clear uptrend, and a pullback to support.
The price is over the weekly pivot, I drew two Tom Demark trendlines showing where I expect it to break.
A safer bet long would be on the breach of the daily pivot with a stop below even handle support at 0.7700.
Daily currency relative strength shows USD and NZD on top, with JPY closely following them.
Weakest currencies are from bottom to top: AUD, CHF, EUR and CAD.
Best setups will occur taking entries from 4h in the most imbalanced pairs.
I'll add more info in the comments when I open a position in this pair and every time I scale in.
Hope everyone has a great week, and a great year!
The price is over the weekly pivot, I drew two Tom Demark trendlines showing where I expect it to break.
A safer bet long would be on the breach of the daily pivot with a stop below even handle support at 0.7700.
Daily currency relative strength shows USD and NZD on top, with JPY closely following them.
Weakest currencies are from bottom to top: AUD, CHF, EUR and CAD.
Best setups will occur taking entries from 4h in the most imbalanced pairs.
I'll add more info in the comments when I open a position in this pair and every time I scale in.
Hope everyone has a great week, and a great year!
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