NZDCHF forex D1 | Our expectations:
Forming a 9 by DeM Sequential in a zone of diagonal and horizontal resistances allows us to look for short positions with Sl 0.6920.
Two equal ticks up and a Japanese candle signal Pincers increase the probability of success in short positions.
DeM (14) in an overbought market area with a south turn indications – confirmation of probability for short positions.
The SMA50 is above the SMA200 but the last mid-term movement is consolidation and this signal can be ignored.
Alternative scenario: If the price breaks over the previous peak, it will cancel the negative scenario from the current levels and we will probably see a price of around 0.6975
Trader Nikolay Georgiev