NZDCHF
Time Frame: H4
Technical Analysis: The price has formed trend reversal formation "Head & Shoulders" from 88.6% Fibo (0.68892) retrace from the downtrend formed on December 2018. The big picture shows us there is big "Triangle" and the traders should seek for future breakout.
Indicators: The price is below 50 SMA and below 100 SMA but it is above 200 SMA, which supports the negative scenario with 50% chance.
DeM(14): The indicator is near the oversold zone and we do not have a signal from it.
Enter: The aggressive input is 0.6830, and more conservative traders can wait for a neckline retest at 0.6850
SL: 0.68950
Alternative Scenario: If the price goes above the "H&S" formation area, we are likely to see a breakthrough in the "Triangle" formation in the upward direction.
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