Trapped Traders® Safe Haven Play: #NZDCHF Trigger Around 0.6580/0.6560 Levels

Today’s trap in particular that we’re going to review is called the Trap Break Pullback, which occurred in the area 0.6645 to 0.6579 during the very first days of 2016. As those support traders were buying, believing that #NZDCHF will continue higher as it had done historically, they got a shock as price drops through the level strongly. Traders holding those positions will likely now be bailing out at break even, creating an opportunity for us to get onboard.

Should price give me a trigger around the 0.6580-level to 0.6560-level, this pair is interesting to the downside. Currently, the New Zealand Dollar is struggling because of commodity prices worldwide and the Swiss Franc is a safe haven play. Given the risk off environment we’re in, this trade makes sense.

Sharp declines on the global stock markets and further dampened any enthusiasm for risky currencies like the NZ$. ADS Securities – MT4.

Peyman Khosravani

Industry Expert & Contributor

Peyman Khosravani is a global blockchain and digital transformation expert with a passion for marketing, futuristic ideas, analytics insights, startup businesses, and effective communications. He has extensive experience in blockchain and DeFi projects and is committed to using technology to bring justice and fairness to society and promote freedom. Peyman has worked with international organisations to improve digital transformation strategies and data-gathering strategies that help identify customer touchpoints and sources of data that tell the story of what is happening. With his expertise in blockchain, digital transformation, marketing, analytics insights, startup businesses, and effective communications, Peyman is dedicated to helping businesses succeed in the digital age. He believes that technology can be used as a tool for positive change in the world.