Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

NZDCHF Analysis & Trading Plan - 31 July 2024 - By Vladimir Ribakov #trading #forex #forexsignals

31 Jul 2024 · 1 min

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In this segment, Vladimir Ribakov outlines his bearish outlook for the NZD/CHF currency pair. He notes that the daily chart has broken below a recent rising trend line, and the breakout is accompanied by momentum that is forming lower highs and lower lows in both price and technical indicators. He observes no immediate contradictory signals, anticipates short‑term pullbacks, and highlights key Fibonacci levels as zones where sellers could regain control and drive the price further down.

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Here is why I believe New Zealand franc has more to offer to the downside. The daily chart broke below the most recent rising trend line, and as the breakout happens, the daily chart gains momentum by making lower highs, lower lows— both the price and the indicators. Currently, no signs against. I do expect short-term pullbacks, but after that, from the marked Fibonacci levels I would not be surprised if the sellers are back in the game, take the control, and push the price down.