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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: sell target - 0.6450

By: Dima Chernovolov

  • NZD/CHF falls inside minor impulse 3
  • Next sell target - 0.6450

NZD/CHF continues to fall after the recent breakout of the support level 0.6800 (which was set in our previous forecast as the sell target for this currency pair). The price earlier spent nearly all May trying to penetrate this support level – trading inside the narrow sideways price range located between levels 0.6800 and 0.6950, as you can see below.

NZD/CHF is likely to fall further inside the active minor impulse wave 3 toward the next sell target 0.6450 (former major support level which stopped the previous primary impulse ① in January, as can be seen below).

CHF
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