• Vasily Trader

NZDCHF: Classic Top-Down Analysis

Hey traders,

NZDCHF has recently broken above a major falling parallel channel on 3 days time frame.

Now we see a retest of its broken resistance.

The retest point matches with a completion point of a harmonic bullish abcd pattern on 12H.

On hourly time frame, the pair remains indecisive though.

The price is coiling within a narrow trading range.

Your confirmation to buy will be a bullish breakout of 0.6425 - 0.6428 minor resistance (hourly candle close above).

First intraday goal will be 0.6448

If the price sets a new lower low lower close on hourly, the setup will be invalid.