Don't be surprised if AUDCHF continues lower. here's my take. AUDCHF is in a downtrend. we have a descending triangle on the hourly chart. if this triangle breaks to the downside, it'll be a confirmation that the trend will continue. However, if you're looking to long then the bottom of the triangle with a stop loss below is where your entry should be. I'm watching this pair with a neutral sense as I type. let's see where it'll head from here.
Audchfprediction
AUDCHF - LONG AUDCHF seems to give a reversal signal regarding the RSI and price pattern.
In my point of view, AUDCHF is still considered as a downtrend, thus trading opposite the trend should be done in a short period of time, "Hit and Run".
Reward/Risk is about 1.5, which is still convincing.
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AUDCHF 1D SETUPI 'm expecting the price to hit the S/R zone and if it shows bearish signs I believe it will only go down by 50 pips. Whereas, if it breaks the zone (which is what I'm predicting) I will enter and expect it to reach 0.70407 which will be my TP. I'm bullish biased with this pair because having a look at the chart in 1W short bulllish signs.
AUDCHF Multi Harmonic Pattern Analysis and StrategyWe see the formation of 2 harmonic shark patterns, big (blue) and small (pink). This signaled us to buy trading the 4th leg of the shark patterns. The small one completes @ 0.7109, which is our target and where we will close our position in profit. OANDA:AUDCHF