Dmitriy Chernovolov, Technical Analyst who has been actively following the FX markets for the last 11 years. He uses a systematic trend following approach combined with a proven money management system. Dima prefers to combine multiple technical analysis tools (e.g. Fibonacci retracements, trendlines, indicator divergences, Japanese candlesticks, Elliott Waves as well as horizontal support and resistance levels on different time-frame charts) to identify high probability synergetic trade setups with a high reward/risk ratio.

NZD/CHF continues the strong uptrend

  • NZD/CHF continues the strong uptrend
  • Next buy targets - 0.7150 and 0.7200

NZD/CHF continues to rise inside the minor impulse wave 5, which stared earlier when the pair reversed up from the support zone lying between the pivotal support level 0.6850 (former resistance level from June) and the 50% Fibonacci correction of the previous sharp upward impulse from the start of May. The active minor impulse wave 3 belongs to the sharp intermediate impulse wave (C) from the middle of January.

NZD/CHF is expected to rise further in the direction of the next buy targets at the resistance levels 0.7150 and 0.7200 (which reversed the previous sharp minor impulse wave 3 in July).

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