Audchfforecast
AUDCHF H4 LONG PRICE ACTION FORECAST -UPDATE-From a higher time frame, the pair remains under bullish appearance as strong trendline support has been met recently, last week this long entry caught me already reaching my S/L level.
Price is currently struggling with the descendent trendline, showing some exhaustion from bulls, now if the price gain enough force to break the trend line, a long entry could be placed
The order:
Type: buy-limit
S/L: 74 pips - R:R | 1:2 -
T/P: aiming towards the resistance
AUDCHF H4 LONG PRICE ACTION FORECAST Price action in a bullish bias from a general outlook, expecting the retest from the support trendline or breakout from the resistance level of 0.655 handle to capture the uptrend continuation with a long entry.
The order:
Type: buy-limit
S/L: 62 pips - R:R | 1:2.5 -
T/P: aiming at the key support line by the blue dotted line
AUDCHF H4 LONG PRICE ACTION FORECAST -UPDATE-With price bouncing apart from a rising trendline from D1, it has found consolidation form the Fib level 5.0. Overall looking for the pair remains bullish.
In H4, now, price action pulled back towards the trendline support, re-testing the support line at 0.6457 handle, expecting the price to re-test the same level before its bullish continuation allows a long entry.
The order:
Type: buy-limit
S/L: 60 pips - R:R | 1:4 -
T/P: aiming at the resistance level from D1
AUDCHF H1 LONG PRICE ACTION FORECAST With price bouncing apart from a rising trendline from D1, it has found consolidation form the Fib level 5.0. Overall looking for the pair remains bullish.
In H1, MACD bullish bias supports the short trend. Now if price action can manage the breakout of the current level a buy-stop entry can be placed, allowing the following setup:
Price action in a pullback
The order:
Type: buy-stop
S/L: 37 pips - R:R | 1:2 -
T/P: aiming at the resistance level in confluence with the 200MA
AUDCHF H4 SHORT PRICE ACTION FORECAST Although price action was able to bounce back from the 50EMA, the bearish momentum in the pair remains. MACD is showing a strong downtrend momentum for bearish bias confirmation.
To capture this bearish bias, a sell-top entry could be placed, allowing the following setup.
Price in consolidation after a bounce from EMA
The order:
Type: sell-stop.
S/L: 63 pips - R:R | 1:2 -
T/P: aiming for the previous resistance level
AUDCHF H4 LONG PRICE ACTION FORECASTAfter the bullish rally in the pair, a correction should come. Now, expecting price action pullback to trigger buy-limit order, allowing the setup to claim profit right at the next resistance level with the R:R | 1:2
Price action has been bouncing from the 50EMA, so the 3rd bounce is the charm. In the D1 timeframe, the price has been bullish, finding resistance at the 200MA, supporting the theory of a healthy correction for further bullish continuation.
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AUDCHF Following Uptrend Line ClearlyAs can be seen from the chart above, AUDCHF is following it's uptrend line clearly, sticking to it in a clean uptrend. I can see the pair going up to 0.64250 in the near term, which is where I would place my take-profit level. The chart above highlights the long term uptrend line and the short term uptrend line, both of which are being followed by AUDCHF in a disciplined manner. With China's data release in a few hours, I expect there to be some volatility in this pair, but otherwise, the uptrend seems to be strong in this pair.
AUDCHF Upward Move in Near TermAs can be seen in the chart, AUDCHF has been moving upwards for a while now. I expect the trend to continue for the near term. I have entered a position at the current levels of around 0.62190 level, and my take-profit level is around 0.62650 level. That is the next resistance for this pair, and I expect it to touch that level in the near term.