Golden Short Opportunity on NZDCHF

12 lug 2017

NZDCHF



After nearly 5-month distribution phase from July 2016 to April 2017, NZDCHF finally penetrated the 0.7000 support level on 25/04/2017 with a long-body and huge-volume bearish candle. But then, it takes almost a month to return to 0.7000 which means there's a weak force of demand below 0.7000. In other ways, the smart money is interested in short side.
The hugh bearish pin bar on 27/06/2017 is the trigger of downtrend continuation. Additionally, the breakout candle on 11/07/2017 helped increase the winning probability for those who are shorting this pair.

Analysis from Vo Thien Phu, Technical Analyst of FPTS, also known as a Smart Money Tracker.