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 rising inside impulse waves iii and (iii)

  • NZD/CHF rising inside impulse waves iii and (iii)
  • Next buy target - 0.7000

NZD/CHF has been rising strongly – following the earlier sharp upward reversal from the powerful support level 0.6860 (former multi-month resistance level, which stopped the earlier waves (1), B and (i), as can be seen from the daily NZD/CHF chart below). The upward reversal from this support level continues the active minor impulse waves iii and (iii) – which belong to the impulse wave 3 of the intermediate impulse wave (3) from the end of January.

NZD/CHF is likely to rise further to the next buy target at the resistance level 0.7000 (intersecting with the resistance trendline of the wide daily up channel from the start of January).


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