Forex Marketz Daily Forex News – Fully Markets Update
The NZD/CHF (0.7444) is not in the top ten currency pairs to analyze and trade. It is not as political as the USD or the EUR. But, as an investor you want to diversify and try different pairs to see the results and spread your asset position. Let’s look at this pair:
The above chart is the thirty minute cycle. Notice the wave pattern. This allows for the investor to play either side — bulls or bears — and likely retain the principle (and hopefully cash in time for profit) by the end of the day/2 day. The full trend is clearly down for the week, though. Support levels are at .74 and the Resistance levels are as high as .75.
Looking at the 4 hour chart above we see a better wave pattern. So, traders should be able to ride their chosen wave and relatively secure asset potential.
Traders should pay attention to the upper and bottom of the bollinger bands. As they widen your wave should increase. As they narrow, traders should see and levelling of the wave pattern. The red line indicates the moving average and investors can use this to provide deeper insight into the wave. As the red line levels you should note a future levelling of the wave. As the red line climbs or falls the short term future could trend in the according way.
In summary, this is a classic currency pair to help level a potential risky account. Trade on, and to higher profits with backing of a diversified portfolio.
