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AUDCHF

AUDCHF Consider this buy break-out signalThe AUDCHF pair hit yesterday its 1D MA200 (orange trend-line) for the first time since September 05 2022. The key on the current price action is the weekly (1W) closing. In September it failed to close a 1W candle above the 1D MA200 and naturally it got rejected to the bottom the long-term Channel Down that it has been trading in since mid 2021. The current sequence is quite similar to the July 2021 - March 2022 fractal. The pair failed to close a week above the 1D MA200 during October 2021 and dropped back to the bottom of the Channel Down. In early March 2022 though, on the new 1D MA200 test, it succeeded at closing a week above it and the price soared eventually to the top (Lower Highs trend-line) of the Channel Down, just above the 1.236 Fibonacci extension level, completing a +10.60% rise. So naturally if we get that weekly closing above the 1D MA200 now, probabilities are with us to buy and target 0.6800, whihc is slightly below a +10.60 extension and the 1.236 Fib. As long as the price closes below it though, it remains a sell opportunity, towards at least the 1D MA50 (blue trend-line) on the short-term. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
2
AUDCHF - bullish setup Hi everyone 🙂 The trend appears to be upward on both the 1-hour and 4-hour timeframes. The daily chart has broken above moving averages of 20, 50, and 100, and we are currently around 60 pips away from daily resistance, with the weekly chart showing movement between the 20 and 50 moving averages. The 4-hour chart also shows a clear pattern of a push followed by exhaustion, with a bullish engulfing candlestick closure. Additionally, hedge funds have slightly increased buying power for the AUD, while the CHF is being heavily sold off. While the outcome of US PMI news may affect the trade, the current setup looks promising for aiming for those 60 pips and potentially reaching a target profit of TP3. 😊
Long
by fxtraderkristina
3
AUDCHF Double BottomInstrument: AUDCHF Chart pattern: Double Bottom Optimal technical indicator: MACD (12;26) POSITIVE Current signal of optimal tech indicator: LONG Optimal technical indicator win-rate: 46% Days for backtesting: 2229 Timeframe for backtesting: 1D Price at the time of forecast: 0,6417 Enter point: 0,6417 Take-profit: on chart Current trailing stop-loss: on chart Multiple for stop-loss strategy model: ATR(14) x 0,8 Average trades per month with optimum technical indicator: 3 Average time for 1 trade with optimum technical indicator: 7 Average profit per 1 trade: 0,09% Projected annual return w/o leverage: 4,9% Technical analysis applicability for 3325 technical strategies: 60% Technical analysis recommendations: Long: 22% Short: 71% Neutral: 7% Stable long-term profit for FOREX, CRYPTO, Equity based on backtesting optimization algorithm. Instant analysis of 3.3K technical strategies
Long
by Trading_investing_2021
3