NZDCHF Analysis & Trading Plan - 5 Sep 2024 #trading #forex #fyp #shorts #forexsignals #tradingtips

Here is why New Zealand franc is a short-term sell for me. On a daily chart, a bearish hidden divergence turns to be a basic divergence. A bearish hidden divergence was lower highs on the chart, higher highs on the MACD histogram, and now we see higher highs on the chart, lower highs on the MACD histogram. 4-hour chart follows the same path— bearish divergence on a moving average of the MACD and breakout below the most recent rising supportive line. The 1-hour chart completes a bearish price structure— 3 lower highs, lower lows. On the short term, I do expect some pullbacks, and they are very welcome. But as long as these key Fibonacci levels you see on the charts will hold, sell the rallies for me is a trading plan on the short term.