NZD/CHF Daily Chart Our Expectations: Declining long-term trend, correction to main horizontal and diagonal. Possibility of short positions with stop 0.6532.
Alternative Scenario: A rise in price over the two resistances will prolong the correction path, and this scenario will be cancelled. In such a case, we can wait for a successful test and price action signal around the levels of support, former resistance and positioning with the new upward movement.
Comment: Decreasing main trend, correction to structural horizontal resistance and diagonal. These levels coincide with 38.2% Fibonacci and 50 MA, making them even more significant. 50/200 EMA in sword formation. At the moment of the daily chart is formed a price action signal of 3 black crows, and to be considered active we have to wait for the bar closure today at 00:00. Then, we wait for a 50% correction of the last bar for a more precise input and position a shortcut. DeMarker goes out of oversupply levels and crosses the 0.7 downstream - bearish signal.
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