NZD/USD:The downtrend, started a few weeks ago, moved the pair until the support level of 0.7436.
USD/CHF: The pair is moving aside between 1(Resistance) more or less and 0.9550 (Support). Last session, the pair almost reached the support 0.9550.
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NZD/USD
Daily graph: http://www.itziktenne.com/RF/NZD_DAILY_151210.JPG
The downtrend, started a few weeks ago, moved the pair until the support level of 0.7436. However, the last four sessions corrected this downtrend with small and weak candles, showing the weakness of the bulls against the bears.
The downtrend is expected to restart according to our analyses, creating an opportunity to go “Short”. Still, this opportunity requires a confirmation through the identification of a decreasing configuration on 1H scaled graph.
Potential trade
1H graph: http://www.itziktenne.com/RF/NZD_1H_151210.JPG
The required configuration should appear when the 1H support at 0.7514 will be broken down.
– “Limit” order on “Short” position 10 pips below the mentioned support, meaning: 0.7504
– “Stop Loss” on the last peak reached: 0.7549
– 1st degree to “Take Profit” on the following support: 0.7492
USD/CHF
Daily graph: http://www.itziktenne.com/RF/CHF_DAILY_151210.JPG
The pair is moving aside between 1(Resistance) more or less and 0.9550 (Support). During last session, the pair almost reached the support 0.9550. This support was reached already 3 times during the last few weeks, and each time started to increase back. When the support will be reached 2 outcomes are possible:
The pair can either be stopped by the support, make a rebound and begin to increase back, a movement which may create an opportunity to go “Long”; or it can cross downward the support and close below it, which is an indication for the current trend to keep decreasing, which may suggest an opportunity to go “Short”.
According to the past experience with that support, the “Stop and Reverse” option is more likely to occur.
Have a profitable day!
Real forex team 