The price of NZDCHF is currently between the powerful 0.382 level and the not-so powerful, 0.236 level, which can also be viewed as temporary resistance and support barriers.
If the price surges through the 0.382 level, the sentiment is bullish and a long position can be opened with take profit being the above Fibonacci levels.
However, if the price drops below...
Inverse head and shoulders indicating a reversal in this long-term bearish pair.
However, the price is currently in the third possible bearish flag between the neckline and the shoulders, therefore it is best to wait until a confirmed breakout of the neckline for entry.
If the current bearish flag proves to be invalid(a bullish breakout), then a long position...