Audchfshort
AUDCHFThe pair has posted an engulfing bearish candle yesterday respecting perfectly the 50MA and confirming the downtrend. It is at the moment sitting at support but if this is broken I can see a strong case for the pair to go all the way down 0.6775 area where I would expect a double bottom as this has been an area many times respected in the past (2015 and 2016).
This view is supported by MACD making a tick lower.
A pull back in the 4H chart and break of the lows will be needed for me to enter the trade.
Trade safe!
AUDCHF approaching support, potential for a bounce!
AUDCHF is expected to drop to 1st support at 0.68591 where it could potentially react off and up to 1st resistance at 0.69022.
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AUDCHF SELL Swing Short Term Target to .6800Bears has flex their muscle and with AUD weakness there is some room to the downside before hitting month support at .6800 looking for CTL breeak on 2hr chart and stop will be made above the .6900 pivot area.
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AudChf Short But Reversal Due SoonAudChf is in a continous downtred and will have some pullbacks on the way down. This pair is not safe to sell because the next "Hot Zone" will be reached sooner than later!
Trading Inside of the Hot Zone will expose yourself to bank manipulation and stop loss hunts as the "hot zones" is where the 99 percent hang out!
Please wait for a confirmation of a trend reversal first... then go long before you decide to trade into the hotzone
Another Aud/Chf Update With Trend Structure Levels H4Here I have used a line chart to draw the trend structure areas on the chart. I see the double top as the start of a new trend. I see the structure levels as how trade will move down to the Fib .618 level! This is how I see it only! I hope this helps with anyone who has entered the trade!
AUDCHF approaching resistance, look out for potential reversal!
AUDCHF is approaching its resistance at 0.69056 where it is could reverse down to its support at 0.68288.
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AUDCHF - ShortThe Australian Dollar has been weak of late, and with the current risk off sentiment we are expecting a shift back into the worlds safe haven currencies of JPY and CHF.
Our favoured pair for the coming week is AUDCHF with a beautiful 15m bearish engulfing candle right off of our level of interest at 0.68630.
Initially this trade has been taken as a day-trade however we will look to scale into a larger position and hold for anywhere from a couple of days to a couple of weeks should the initial target at 0.68325 be convincingly broken.
Keep it real.
Cheers, Paul.
AUDCHF Major LevelAUDCHF has been travelling in a descending channel marked out in black. Price recently hit the top of the channel and has started making its way down, on its way it has formed another descending channel marked out in blue. Right now price is at a major support level, It has previously been tested in the past very strongly. If price breaks above the descending channel we could be seeing another test of this area and make its way back up, or it could break below this area, retest it before dropping to make Lower Lows.
Major Support zone HIT!AUDCHF price has bounced from the major support zone highlighted by the pink rectangle. It has also been travelling in a descending channel. We believe price will now make its way up to the zone shown above (0.70500), price has made a Higher High on the 4H chart, it will now move up, break above the descending channel , come back down to retest the channel like shown above before starting a bullish rally.