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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: buy target - 0.7450

  • NZD/CHF rises inside C-wave
  • Next buy target - 0.7450

NZD/CHF continues to rise inside the C-wave of the intermediate ABC correction (2) – which started in the middle of January – when the previous sharp intermediate impulse (1) stopped at the major support level 0.6450 (as you can see from the daily NZD/CHF chart below). This C-wave earlier started, when the price reversed up from the support zone lying between the support level 0.7200 and the 38.2% Fibonacci Correction of the previous upward impulse from February.

NZD/CHF is likely to rise further inside the active minor impulse (iii) of the aforementioned C-wave – in the direction of the next buy target 0.7450 (which resistance level last month reversed the previous A-wave).

CHF
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