AUDCHF: Techno-Fundamental Trade 4:1 RR
Updated
Fundamentals:
The SNB's floor for EURCHF is at 1.07. This is great information for small traders. Let's pin weak currencies (thematically) with strong in order to lower our risk and enhance our trade. Enter AUDCHF!
The AUD is heavily oversold (fundamentally). The prospects looks bright for strength going forward in the medium-term.
Technicals
Crown
Inverted H&S pattern
uRd
MACD strength
RSI(17) is not perfectly above the 50; 49.75 is close enough. What's more, it is rising and breaking out of a downward RSI trendline slope.
Price recently bounced off a 50% Fibonacci level.
There are more bullish than bearish days are this level at the time of this writing.
Final comments and concerns:
The floor for the SNB is at 1.07; raised from 1.05. We are reminded of the SNB's 1000 pip collapse in EURCHF; however, pairing (1) thematic weak with strong currencies; and, (2) using large time frames, we can reduce our risk from "large" moves and continue our method of extracting a conservative profit from the markets.
The SNB's floor for EURCHF is at 1.07. This is great information for small traders. Let's pin weak currencies (thematically) with strong in order to lower our risk and enhance our trade. Enter AUDCHF!
The AUD is heavily oversold (fundamentally). The prospects looks bright for strength going forward in the medium-term.
Technicals
Crown
Inverted H&S pattern
uRd
MACD strength
RSI(17) is not perfectly above the 50; 49.75 is close enough. What's more, it is rising and breaking out of a downward RSI trendline slope.
Price recently bounced off a 50% Fibonacci level.
There are more bullish than bearish days are this level at the time of this writing.
Final comments and concerns:
The floor for the SNB is at 1.07; raised from 1.05. We are reminded of the SNB's 1000 pip collapse in EURCHF; however, pairing (1) thematic weak with strong currencies; and, (2) using large time frames, we can reduce our risk from "large" moves and continue our method of extracting a conservative profit from the markets.
Trade active
Note
Note
USDCHF and SNB bottom line signal in EURCHF: 
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