AUDCHF 4H: Price making higher highs & higher lows, CHF having weaker momentum as well. Last week price consolidated... Solid setup here, lets see if we can get a break to the upside this week!
Trade with care!
Aud-chf
AUD / CHFHi boys! Aud chf looks like it will continue upwards to double top on the daily. We have a perfect elliot so far. Wave 3 was a perfect 1.618 of the first wave. Wave 5 will be just as long as the first wave, so I am expecting a double top before it dips again. Conversion line crossing base line signaling further upside and this thing broke the cloud on most time frames. Stoch RSI also signaling further upside. I want to point out that we had some bad aussie fundamental news yesterday, and the daily candles got burnt out by the wicks. This thing is still bullish to me.
AUDCHF SELL THE BREAKOUTHi everyone:
AUDCHF is on my weekly watch list for short, and today we are seeing an opportunity. Price action formed a lower high on the 4 hr chart, and a breakout of a rising wedge to the downside will give us great risk:reward trade.
On the daily time frame we know that price action has retrace to 61.80%, daily lower high which confirms the bearish momentum.
Potential target to the recent lows of 0.7280.
Thank you for your support and feedback.
AUD/CHF 1H Chart: Channel UpThe Australian Dollar has shown some strength against the Swiss Franc for the last three weeks, thus resulting in the formation of a channel up. The starting period of this pattern was rather chaotic; however, it managed to form two distinctive peaks within the last five trading days. The direction of the last wave down is to the side, resembling a minor falling wedge. Technical signals of both patterns therefore indicate that the rate should bounce off the 0.7545 area and breach the wedge to the upside. This level is likewise reinforced by the 55-hour SMA located at 0.7551. Immediate resistance, however, is provided by the monthly R2 at 0.7602. Meanwhile, trend indicators have substantially decreased in strength, suggesting that in case the surge upwards is to continue, it may no longer be sustainable for more than a few trading days.
AUD/CHF rejected at cloud, breaks below 50-DMA, stay shortAUD/CHF rejected at cloud, edges lower from multi-week highs at 0.7430.
The pair has edged lower to break below 50-DMA and bias lower.
Downside has hit fresh weekly lows of 0.7334, has since pared losses to currently trade at 0.7351.
Close below 50-DMA at 0.7365 has raised scope for further drag lower, test of 0.73 (23.6% Fib) now likely.
Technical indicators have turned slightly bearish, Stochs are on verge of bearish rollover.
On the upside, decisive break above daily cloud could see test of 200-DMA at 0.7496.
Support levels - 0.7334 (session low), 0.73 (23.6% Fib), 0.7280 (June 13 low)
Resistance levels - 0.7381 (5-DMA), 0.7398 (38.2% Fib of 0.7807 to 0.7147 fall), 0.7430 (trendline), 0.7496 (200-DMA)
Good to go short on rallies around 0.7360, SL: 0.74
AUDCHF: Sell SetupWe have AUDCHF at the top again. The up move has been showing us that there is a possibility for another move down.
Look for price action at this area for sell trade. If price breaks above then this sell idea is no longer valid.
AUDCHF - June/July/August - Technical Trade OpportunityAUDCHF has been facing significant downside pressure. This has been confirmed by the recent break of 4Q 2016 trend support and successfully retesting it with a rejection. This has pushed the pair into bearish territory.
We have recently seen a solid retrace which might allow for entry/addition of short positions.
Currently sitting at 0.73000, the lower 4h timeframe shows semi-strong signs of weakness.
Should the pair fail to break 0.73300, the pair is likely to take another dive to at around 0.715.
Should the pair break above 0.73300, the pair will still be in bearish territory, however immediate bearish outlook will be cancelled.
Safe and Successful Trading!
AUD/CHF Daily Update (1/6/17)Bear move is still pretty strong.
It is reaching a support zone.
Possible of retracement coming up should be possible.
Will not long now, have to wait for more PA to confirm the upmove.
AUD/CHF breaks major support at 0.7235, short ralliesAUD/CHF has broken below major trendline support at 0.7235, intraday bias lower.
Aussie dented after China Caixin manufacturing PMI dipped into contraction territory in May, widely missing forecasts.
China's Caixin manufacturing PMI for May arrived at 49.6 vs 50.1 expected and 50.3 last, slipping into contraction on slower increases in output and new orders.
Slight rebound in Switzerland GDP after two disappointing quarters keeps CHF supported.
Data released earlier today showed Switzerland Gross Domestic Product (YoY) climbed from previous 0.6% to 1.1% in Q1.
AUD/CHF is currently hovering around 61.8% Fib of 0.6752 to 0.7806 rise. Break below finds next major support at 0.7032 (June 16 2016 low).
Bearish invalidation only on close above 20-DMA at 0.7305.
Support levels - 0.7155 (61.8% Fib), 0.7097 (June 24 2016 low), 0.7032 (June 16 2016 low)
Resistance levels - 0.7230 (5-DMA), 0.7235 (trendline support turned resistance), 0.7280 (50% Fib), 0.7305 (20-DMA)
Good to go short on rallies around 0.7190, SL: 0.7240, TP: 0.7155/ 0.71/ 0.7035
MONTHLY RETESTMARKET RETESTED MONTHLY RESISTANCE FOR ANOTHER PRICE REGECTION . LOOKING TO BREAK DAILY SUPP AND TP AT WEEKLY SUPP .
AUD/CHF long setupAUD/CHF pair holds above 5-DMA support at 0.7413, intraday bias higher.
Technical indicators have turned bullish, Stochs and RSI have turned north from oversold levels.
We see bullish divergence on Stochs on daily charts which reinforces upside.
20-DMA at 0.7448 is strong resistance, break above required to extend gains.
Support levels - 0.7412 (5-DMA), 0.7396 (23.6% Fib of 0.7806 to 0.7270 fall), 0.73, 0.7270 (trendline)
Resistance levels - 0.7448 (20-DMA), 0.7475 (38.2% Fib), 0.7513 (200-DMA)
Good to go long on breakout above 0.7450, SL: 0.74, TP: 0.7475/ 0.75/ 0.7540
AUD/CHF slumps to fresh 4-month lows, bias lower Aussie continues to trade under immense pressure, AUD/CHF slumps to fresh 4-month lows.
Aussie dented from hawkish FOMC monetary policy statement, falling commodity prices and disappointing release of Australian trade balance data and China Caixin Services PMI.
A modest recovery in copper prices, and RBA Governor Lowe’s hawkish comments failed to lend any immediate respite.
RSI convergence with downside price action continues, suggesting more downswings on cards.
The pair has breached major trendline support at 0.74 raising scope for test of 0.7250 levels.
On the weekly charts, price action has broken below 50-SMA at 0.7456.
Support levels - 0.7342 (Sept 30 low), 0.73, 0.7250 (trendline)
Resistance levels – 0.74 (trendline), 0.7428 (5-DMA), 0.7505 (20-DMA)
Good to go short around 0.7380/90, SL: 0.7430, TP: 0.7340/ 0.73/ 0.7255
AUD/CHF Daily Update (4/5/17)Break down from the strong support.
I am bullish on CHF and is looking for more downside.
Will look for short should price retrace back to the "support turned resistance" zone
