NullForex

NZD/CHF - Bearish Forecast to the 0.60000s

FX:NZDCHF   New Zealand Dollar/Swiss Franc
Price has broken Trend line A and is continuing downwards to meet the decision point. This is a demand area which I believe is going to create enough order accumulation to retest the trend line and continue downwards to the 0.60000s. Longer term trend line B was broken previously which indicated shorts are in play. Be careful though, the decision point can either be a fakeout in which case it might warrant a full reversal to the upside but ultimately depends on what happens when price reacts to the decision point. You can see that the entry I have chosen is a significant key level that, to me, is indicating a good area that price might retest which just so happens to fall in line with trend line A.
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