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Aud-chf

AUDCHF HEAD & SHOULDER SHORT TRADE IDEAHi traders, The 4-hour chart of AUDCHF shows that the breakout and retest of the Head & Shoulder pattern neckline is a complete 5-3 wave cycle. . The breakout shows a leading diagonal pattern in wave (i) and a zigzag pattern in wave (ii). . Considering that the corrective structure is completed and price also retested the broken neckline that lined up with resistance level and 61.8 Fib ratio, a bearish continuation is expected in wave (iii). . We will wait for the break out of the blue CTL to confirm the sell setup. . Best of luck on the chart! Veejahbee.
Short
by Veejahbee
Traders await high impacting US economic data and key Brexit votGDP AND CPI During the upcoming trading week the United States economy is heavily in focus, with the world’s largest economy releasing a slew of high impacting data points, including Retail Sales, CPI, PPI, Durable Goods, Housing and Consumer Confidence data. The British pound is likely to remain volatile this week as we see another key Brexit vote in UK Parliament, with British Prime Minister Theresa May attempting to push through her meaningful Brexit bill. If British PM May fails to pass her deal, UK lawmakers will have the option on whether or not extend the United Kingdom’s departure date from the European Union. This week we also see an important interest rate decision from the Bank of Japan, with the BOJ widely tipped to rates on hold and talk up global risks. Other key events on the economic docket this week include Chinese Industrial Production data, EU inflation figures and United Kingdom GDP and Trade data. Monday 11th March, USD United States Retail Sales US Retail Sales is released by the United States Census Bureau and measures the change in the total value of inflation-adjusted sales at the retail level over a stated time period. This figure represents an indicator of consumer spending inside the United States economy. Higher retail sales figures generally indicate stronger consumer spending, which is vital for US GDP and economic growth. • The USDJPY pair is only bullish while trading above the 111.00 level, further gains towards 112.20 and 113.00 levels would then seems possible. • If the USDJPY pair trades below the 111.00 level, sellers may test towards the 110.65 and 110.00 support levels. Tuesday 12th March, USD US Consumer Price Index The US Consumer Price Index is released by the US Bureau of Labor Statistics and evaluates the fluctuations in the cost of living by measuring the changes in prices consumers pay for a set of items. In terms of an inflation measurement, the Consumer Price Index is the most obvious way to quantify fluctuations in purchasing power, although the Federal Reserve relies on the PCE Deflator as its primary means to determine whether inflation is occurring. • The USDCHF pair is bullish while trading above the 1.0010 level, key resistance is found at the 1.0090 and 1.0150 levels. • If the USDCHF pair moves below the 1.0010 level, sellers will likely test towards the 0.9950 and 0.9890 support levels. Wednesday 13th March, USD United States PPI The Producer Price Index released by the US Bureau of Labor Statistics and the Department of Labor measures changes in the selling prices producers charge for US goods and services and tracks how prices feed through the production process. PPI is valuable as an early indicator of inflation because producers tend to pass on higher costs to consumers as higher retail prices. It also gives an image of how higher prices from raw materials flow toward the final product. • The GBPUSD pair is only bearish while trading below the 1.3100 level, key resistance is found at the 1.3200 and 1.3350 levels. • If the GBPUSD pair moves above the 1.3100 level, key support is found at the 1.2970 and 1.2840 levels. Thursday 14th March, CNY Chinese Industrial Production The Chinese Industrial Production Index is released by the National Bureau of Statistics of China and is an economic indicator that measures changes in output for the manufacturing, mining, and utilities. Industrial Production figures are also used by central banks to measure inflation, especially inside nations that heavily rely on industrial manufacturing and raw material exportation. • The AUDUSD pair is bearish while trading below the 0.7080 level, key support is found at the 0.7000 and 0.6930 levels. • If the AUDUSD pair moves above the 0.7080 level, buyers may test towards the 0.7130 and 0.7180 resistance levels. Friday 15th March, EUR Eurozone Consumer Price Index The eurozone Consumer Price Index, released by Eurostat measures the changes in the price of goods and services from the perspective of the consumer. A higher value of the CPI represents significant inflationary pressures in the eurozone economies and also puts pressure on the European Central Bank to raise interest rates. CPI data may not affect the markets significantly because CPI is the European Central Bank's mandated inflation target. • The EURUSD pair bearish while trading below the 1.1300 level, key support is found at the 1.1170 and 1.1120 levels. • If the EURUSD pair moves above the 1.1300 level, buyers will likely test towards the 1.1330 and 1.1360 resistance levels.
by OctaFX_Official
AUDCHF HEAD & SHOULDER BEARISH TRADE SETUPHi Traders, The 4-hour chart of AUDCHF showed a reversal from a key resistance level and a broken H&S neckline. . As shown, the breakout impulse can be seen as a five-wave impulse pattern, labeled i-ii-iii-iv-v (blue). . The Elliott Wave theory states that a three-wave correction follows every impulse. That is exactly what we are looking for now in form of a-b-c (red) corrective pattern to retest the broken neckline that lined up with 50.0-61.8 FIb ratio as indicated on the chart. . Once the 5-3 wave cycle is completed, the bears can be expected to lift the pair below 0.68783 area. If this analysis is correct, March should be just as enjoyable for the bears as December was. . Best of luck on the chart! Veejahbee.
Short
by Veejahbee
Markets look for direction from fed chair and trade negotiationsTestimony and trade During the upcoming trading week traders and investors look to Federal Reserve Chair Jerome Powell testimony and US trade negotiations for direction. Fed Chairman Jerome Powell will appear before US Congress on Tuesday and Wednesday to discuss the economy and US monetary policy, markets will be focused on his latest thoughts on US interest rates. We also see the deadline for Sino-US trade talks expiring on Friday, with negotiators from Beijing and Washington hurrying to beat the deadline. This week we also see the release of important Manufacturing data from the United States and the Chinese economy. We also see the release of key CPI inflation data from Canadian and eurozone economies and the release of US ISM manufacturing and US Core PCE data, which is the Federal Reserve’s preferred measure of inflation. Monday 25th February, EUR Italian GDP Italian Gross Domestic Product measures the change in the inflation-adjusted value of all goods and services produced by the economy. Gross Domestic Product is seen as the primary indicator of a nations economic health and is closely watched by investors and market participants. The Italian economy shrank by 0.2 percent during the last quarter of 2018, marking the second consecutive quarter of contraction, putting the Italian economy into a technical recession. • The EURUSD pair is only bearish while trading below the 1.1300 level, key support is found at the 1.1230 and 1.1180 levels. • If the EURUSD pair moves above the 1.1370 level, buyers will likely test towards the 1.1410 and 1.1450 resistance levels. Tuesday 26th February, USD US Consumer Confidence The US Consumer Confidence Index released by the US Conference Board measures the level of consumer confidence in economic activity. The US Conference Board index has the largest pooling sample of any US measure of consumer confidence, making the Consumer Confidence Index a key barometer of the health of the overall United States economy from the perspective of the consumer. • The GBPUSD pair is bearish while trading below the 1.3000 level, key support is found at the 1.2940 and 1.2810 levels. • If the GBPUSD pair moves above the 1.3095, buyers may test the 1.3160 and 1.3200 resistance levels. Wednesday 27th February, CAD Canadian CPI The Canadian Consumer Price Index is released by Statistics Canada and measures the change in the price of goods and services from the perspective of the consumer. It is the most important indicator of inflation in Canada and is watched closely by the Bank of Canada. A strong or sustained rise of CPI inflation inside the Canadian economy can stimulate the central bank to raise interest rates in order to manage inflation and slow economic growth. • The USDCAD pair is only bullish while trading above the 1.3240 level, further upside towards 1.3300 and 1.3380 levels would then seem possible. • If the USDCAD pair trades below the 1.3240 level, sellers are likely to test the 1.3100 and 1.2990 support levels. Thursday 28th February, USD Annualized GDP United States GDP Annualized is released by the US Bureau of Economic Analysis and is based on quarterly economic data. US Gross Domestic Products is the market value of all final goods and services from a nation, usually calculated on an annual basis. Because most of the report components are known in advance, the United States GDP reports significance and ability to move markets has decreased. • The USDCHF pair is bullish while trading above the 1.0050 level, further upside towards the 1.0100 and 1.0190 resistance levels seems possible. • If the USDCHF pair trades below the 1.0100 level, sellers are likely to test towards the 0.9950 and 0.9910 support levels. Friday 29th February, CNY Chinese Manufacturing PMI The Chinese Manufacturing Purchasing Managers Index is released by the Chinese Federation of Logistics and Purchasing. China’s Manufacturing PMI and is an economic indicator that measures the activity level of purchasing managers in the manufacturing sector each month. The Chinese Manufacturing PMI for the month of February is expected to be stronger than the January figure, but below the 50.0 reading needed for economic expansion. • The AUDUSD pair is only bearish while trading below the 0.7210 level, further downside towards the 0.7150 and 0.7080 levels seems likely. • If the AUDUSD pair trades above the 0.7210 level, buyers are likely to test towards the 0.7340 and 0.7410 resistance levels.
by OctaFX_Official
AUD/CHF Potential Sell Setup on H4AUD/CHF formed an interesting SHS pattern and broke below the neckline. The right shoulder retraced at 61.8% of the previous impulse move, while the head represents the high of a price correction that retraced at 78.6% of the previous larger impulse move. The pair is trading in an overall downtrend and in the upper half of the channel, which also signals the potential for further weakness in the pair. The Australian dollar got hit hard recently on reports that a rate cut may be on the table and trade tensions that hover like a dark cloud above China. The Swissy is doing quite well on the other side, with Switzerland (non-EU state) in the process of getting a trade deal with the UK after Brexit.
Short
by MujkanovicFX
AUDCHF approaching resistance, potential drop! AUDCHF is approaching our first resistance at 0.7186 (Horizontal overlap resistance, 61.8% fibonacci retracement, 61.8% fibonacci extension) and a strong drop might occur pushing price down to our major support at 0.7160 (Horizontal swing low support, 38.2% Fiboancci retracement). Stochastic (55, 5, 3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
AUDCHF approaching resistance, potential drop! AUDCHF is approaching our first resistance at 0.7191(61.8% Fibonacci retracement , 61.8% Fibonacci extension , horizontal swing high resistance) where we might see a drop in price to our first support at 0.7074 (61.8% Fibonacci extension ,61.8% Fibonacci retracement , horizontal swing low support ). Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Klimex
AUDCHF approaching resistance, potential drop! AUDCHF is approaching our first resistance at 0.71850 (horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 0.7145 (61.8% Fibonacci retracement). Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by easyMarkets