Aud-chf
Bullish Movement expected on AUDCHF by ThinkingAntsOkMain items we can see on the chart:
a) The big picture of AUDCHF is that the price is inside a Primary Weekly channel and a Secondary Weekly Channel
b) The Secondary one has been broken
c) Based on that, we can see two corrective Structure on the Edge, and we think that if the new correction is broken will confirm the new motive wave
d) Our Target for this movement is the upper trendline of the primary weekly channel
DAILY CHART
AUDCHF SELL ideaI was stopped out of this previous trade however I saw an opportunity for a re entry. I haven’t had the best of luck recently as a new trader I’m working on my craft. I see a good sell opportunity on AUDCHF and is demonstrated on daily level too. It’s got a lot of room to go down and despite a jump out of the channel it is still in continuation of its downtrend. I’m entered currently and running profit.
My SL is currently 0.6555
with no current TP but I will be monitoring this trade and perhaps look into holding over the weekend/next week depending.
AUDCHF WEEKLY OUTLOOK JUNE 15-19AUDCHF is looking to fulfill an inverted head+shoulders pattern based on the 4H and lower timeframes. The markets reacted this week with the Federal Funds Rate being kept at 0.25% for the USD. The markets have reacted strongly to that decision and has showed signs of trend reversals/USD strength in most pairs. The criteria I am looking for regarding this pair is 1 of 3 things. A 4HR bullish closure above 0.65534. Whether that be a bullish engulfing candlestick, bullish inside bar pattern, or a bullish pin bar candlestick. This should take this pair to 0.66500, which would equate to about 95 or so pips. Patience is key.
AUDCHF Will price re-test the former resistance? This is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Let’s make some money together!
Correction on AUDCHF by ThinkingAntsOkDaily Analysis of AUDCHF
A) The price has broken a descending channel with a bullish movement
B) From a Technical Perspective Corrections appear after relevant structures are broken
C) Based on that we are expecting a correction on the current zone
D) If that happens, we will consider it as a continuation pattern
E) The main idea will be to trade the breakout of it with a target on the next resistance zone
Don't miss the great sell opportunity in AUDCHFTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.64). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDCHF is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 48.
Take Profits:
TP1= @ 0.6323
TP2= @ 0.6234
TP3= @ 0.6072
SL: Break Above R2
Don't miss the great sell opportunity in AUDCHFTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.64). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDCHF is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 48.
Take Profits:
TP1= @ 0.6323
TP2= @ 0.6234
TP3= @ 0.6072
SL: Break Above R2
AUD- CHFAUD has been in an uptrend since March and looks strong against most of the forex pairs.
It has been consolidating as a symmetrical triangle (which are a 50,50 pattern in my experience) broke up from it and created a base on the base pattern as a rectangle range above the triangle and is about to break out of the rectangle, which is a good sign of strength and continuation.
As long as the price holds above 0.635 l, I believe the price will move to 0.66 in the coming days. which provides a good risk to reward trade.