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NZDCHF a possibility for short positions

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


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