Let’s take a break from the majors and look at the NZD/CHF.
The longer term movement is bullish and it looks as if we’ve formed a triangle formation.
We first drew in our SP2 trend line, then duplicated it and placed that line as our SP1. As you can see, we have broken the top of the triangle and am currently moving upwards. Look for the currency pair to come back down and test the SP1 and potentially the SP2 line as well.
You must take into account your own strategy and analysis of this particular pair and your risk appetite before entering the trade.
Watch the announcements and place your stops.
Good luck.
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