NZDCHF: increased attention for probable sell positionseasypips
Forex NZDCHF | Our expectations:
Downward trend and retracement to levels of horizontal and diagonal resistance. The 9Q by DeM Sequential is a good chance of reversing the short-term upward movement. Positioning slightly above the top of the bar with the 9th as the pair is volatile in order to refine the risk and SL 0.6576.
Negative formation under resistance – rotating peaks and inside bar.
SMA50 and SMA200 in bearish formation and price below them – a probable 50 SMA test where we can look for a good entry.
DeM (14) in an overbought market above 0.7 as a rotation down will confirm the negative scenario.
Alternative Scenario: A whole closed bar over 50SMA will break the negative scenario and we can expect a deeper retracement.