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Aud-chf

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
AUDCHF approaching resistance, potential drop! AUDCHF is approaching our first resistance at 0.7191 (horizontal pullback resistance, 61.8% fiboancci retracement) and a strong drop might occur pushing price down to our major support at 0.7149 (38.2% Fibonacci extension, 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 Tickmill
AUDCHF approaching resistance, potential drop! AUDCHF is approaching our first resistance at 0.7183 (horizontal overlap resistance, 100% Fibonacci extension) where a strong drop might occur pushing price down to our major support at 0.7113 (50% 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 Tickmill
AUDCHF BULLISH CONTINUATION SETUPHi Traders, The AUDCHF reversed from a major descending channel and horizontal support level and made an impulsive move higher labeled "Wave 1 or A," which broke out minor descending trend line and resistance level. . This pair seems to completed building bearish ABC zigzag corrective chart pattern labeled "Wave 2 or B," at an important confluence level which could indicate a continuation of the uptrend. . Considering that the price has broken our CTL after reversing from the confluence area, this pair has met our criteria for long entry. . The take profit levels are projected on the chart accordingly. . Best of luck on the chart, Veejahbee.
Long
by Veejahbee