I am sharing the technical analysis of #NZDCHF for the week starting 29 November 2021. I’m using the following indicators:
First off, I start my technical analysis with the weekly chart time frame then I scale down to M15.
See the last candlestick? That is supposed to be a good bearish sign. Not yet, continue reading.
Last week, the price has fallen to a strong support level, but as you can see, the H4, D1 and W1 channels are all bearish.
The price is falling from the top edge of the weekly channel itself. Let’s see the daily time frame.
We should see a pullback “Price Action”, market is retesting then the price continues the fall. So far. Let’s go down further.
H1 chart time frame is also under selling pressure, keep on selling. A pullback means that you will go against the trend, that is highly not advisable unless you see confirmation in low time frame.
Now we are talking, pullback is happening! Probably until 0.63105 then bearish move continues.
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