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 buy trade explained - 13 June 2024 #forex #trading #forexsignals #forexeducation #fyp

13 Jun 2024 · 1 min

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In this brief commentary, Vladimir Ribakov outlines why the NZD/CHF currency pair presents a classic long (buy) opportunity. He examines three time‑frames: on the daily chart a strong resistance zone has been broken upward, retested and now acts as support; on the 4‑hour chart price has broken above a descending trend line, indicating a bullish shift; on the 1‑hour chart the market shows a textbook bullish price structure with three consecutive higher highs and higher lows. Ribakov suggests that any pull‑back to key Fibonacci retracement levels within this context could serve as an entry point for a buy trade, and invites viewers to share their thoughts in the comments.

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Here is why I believe NZD/CHF could provide classical buy opportunity. On a daily chart, there was a strong resistance that was rejected several times, broken to the upside, retested, respected, and becomes a support area. The 4-hour chart break upside above the most recent falling trend line. 1-hour chart is making classical bullish price action, price structure, 3 higher highs. Higher lows. I believe that any drop and rejection respect of the Fibonacci levels could provide a buy opportunity. What do you think about New Zealand franc? Let me know in the comment section.