Aud-chf
AUDCHF approaching support, potential bounce!Price is approaching our first support at 0.7316 (horizontal swing low support, 61.8% fibonacci extension, 76.4% fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 0.7396 (horizontal swing high resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (55,5,3) is also approaching our support and a bounce off this level might be a good precursor for a potential rise in price.
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AUDCHF - Bearish evening star on dailyThere was Evening Star and Bearish Harami on AUDCHF daily. I expect it to drop all the way down to 724.57. Fine bearish Ichimoku setup on daily. I just tuned up to hourly for intraday entries.
AUD/CHF slumps, 'Shooting Star' suggests further declinesAUD/CHF extends weakness after upside was rejected at daily cloud.
We evidence a 'Shooting Star' pattern formed on the daily charts which supports further weakness in the pair.
Price action has retraced below 21-EMA and 5-DMA, eyes major trendline support (Triangle Base) at 0.7280.
Breach at 'Triangle Base' raises scope then for test of 0.7242 (2018 lows).
Bearish invalidation only on break above cloud base.
Support levels - 0.73, 0.7280 (trendline), 0.7263 (Mar 28 low), 0.7242 (2018 lows till date)
Resistance levels - 0.7366 (5-DMA), 0.7370 (21-EMA), 0.74
Good to stay short on upticks, SL: 0.7375, TP: 0.73/ 0.7280/ 0.7245
1W support test and rebound. Medium term Long.AUDCHF has found support on the 1W support zone = 0.72414 - 0.72695 (Highs/Lows = 0) and is already rebounding on 1D (Highs/Lows = 0.0035, RSI = 54.336, B/BP = 0.0098). The targets are seen on the yellow rays with 0.75067 being the most suited.
AUDCHF ready for nose dive?AUDCHF appears to be completing H&S top, and at the verge of breaking a very important rectangle structure which this pair was from last three months. Watch out for the break of neckline.
AUD / CHF -- 6/8/2018 -- Weekly ChartAUD/CHF has been trading in a range between R1 and S1 for over a year. I open to taking trades at both locations. Price extremes outside of the wH Channel should also be seen as attractive buy or sell locations as long as we remain in a trading range.
AUD/CHF 1H Chart: Two patterns dominateThe Australian Dollar has been trading sideways against the Swiss Franc for the last two months. This movement is a part of a larger up-trend which started in March when the pair reversed from the senior channel circa 0.7250.
The rate is currently located near the senior channel. It is expected that the Aussie continues to move higher during the following days and approach the aforementioned senior channel at 0.7610.
Subsequently, the pair could lack the necessary momentum to breach this strong resistance level, especially if the current movement has been sideways, and thus let the bearish sentiment take over the rate. This long-term pattern is expected to hold for the following month, at least.
Rejection at Support, Long to .77Pair hit the bottom once again to be rejected at this level. Going long on this pair to .77
Great Risk Reward
AUD/CHF 4H Chart: Aussie lingers near long-term channelAUD/CHF has been trading in two dominant patterns, namely, an eight-month descending channel and a junior channel which formed in early February. During the past few weeks, the pair has remained near upper boundaries of these two patterns.
The Australian Dollar’s weakening against the Swiss Franc during the previous sessions has provided a possible short-term buying opportunity for bulls. A possible near-term target for this week is the 50.0% Fibo and the upper boundary of the senior channel at 0.7520. In case this level is surpassed, the pair should test the monthly R1 and the 61.80% Fibo at 0.76.
Conversely, a breakout of the 200-hour SMA should send the Aussie for a decline down to the junior channel and the monthly S1 circa 0.7350.
AUDCHFThis symbol features the Australian Dollar - Swiss Franc cross pair. While less popular than the AUDJPY cross, the AUD/CHF has similar characteristics in that it can be used as a carry trade. Some may also view this pair as a reflection of risk sentiment due to the risk-on nature of the Australian currency and the safe-haven characteristics of the Swiss franc.
AUDCHF ShortWaiting for the bounce before the possible bearish slide of this pair if not by Friday, by next week, based on price action from the weekly chart as well as the bearish effect on most AUD pairs in general due to recent USD strength from rising US yields and general hawkishness of the Fed. Setting up sell stop order @0.74069 with TP near the weekly trendline support @0.731 and SL just a few pips above this week's resistance @0.746.
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Daily:
Weekly:
Confidence: B (risk of getting whipsawed, better to enter this trade after Personal Consumption & GDP news on Friday)
Aud Chf possible DT right into s/r Zone Aud Chf is trading around the 200 ma with no real clear direction but if you take a closer look you will see that we just forming a double top right at the MA and right into a s/r area , we see several test of this zone from above and below if we look a bit to the left .
I would like to see price droping from here and enter after smaller TF support breaks down like in the Picture above. .
Or for a long scenario i want to see a break n close above our s/r zone here .
Buy to .75 - Bounce off Upward TrendlinePrice bounced off the trendline, signifying a bullish move to the upside.
Being conservative on this one as price may not continue on higher after .75, due to the new lower low price action
