Audchfshort
AUDCHF approaching resistance, potential drop!AUDCHF is approaching our first resistance at 0.7315 (horizontal pullback resistance, 61.8%, 76.4% Fibonacci retracement) where a strong drop might occur pushing price down to our major support at 0.7217 (horizontal pullback support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
AUDCHF continues bearish against resistanceI wouldn't call the full bar one day ago a doji because its not a huge indecision, but the indecision is most certainly present. Originally I wanted to see if this trade will hold up against the resistance level and it continues to look like so. However, we see a bearish dominance in the most recent bar session. I'm taking an early short position in order to maximize R:R.
AUDCHF bearish bar dominant on daily outlookSimilar to my USDCHF trade, I took a short, but this time admittedly at an unoptimized position. This pair tested a weekly support turned resistance level. I have received confirmation that there is bearish momentum given by the dominant red bar days after I placed my initial trade. This trade could've been optimized so I am currently suffering from a smaller reward to risk ratio. Nevertheless, profit target has not been set and stop loss will be tightened up as this pair continues lower.
~Financial Gambler, or at least that's what they call us retail traders
AUDCHF SHORT coming this has hit the 0.618 fib retracement
personally will watch this closely as
it might retrace to about 0.382. i am
expecting this to drop. once it breaks
the blue line, should hit the 1.618 fib
extension
like, follow and comment :)
see previous chats especially the weekly one too
AUDCHF short on the hourly rejection candleI actually published a trade idea on this pair before, but off of the weekly time frame where the trade held resisted over on the weekly time time frame. However, I did want to scale into this trade as I was not able to catch this trade right at the weekly resistance. Seeing this hourly time frame, we can observe a rejection bar that signals this pair will most likely swing low once again.
AUDCHF Weekly Forex Forecast 23rd September To 28th SeptemberMidterm forecast:
0.7145 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 0.7145 is broken.
Technical analysis:
The RSI bounced from the support #1 at 25 and it prevented price from more losses.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 43.
AUD/CHF closes below 61.8% Fib, bias bearish, tgt 78.6% FibAUD/CHF Bias Bearish
- Price has breached major trendline support at 0.70
- Momentum studies are highly bearish
- Bollinger Bands on weekly charts are widening
- MACD supports trend lower
Support levels - 0.6805 (78.6% Fib), 0.6752 (Feb 2016 low), 0.67
Resistance levels - 0.6964 (5-DMA), 0.70, 0.7108 (21-EMA)
Stay short on upticks, SL: 0.7108, TP: 0.68/ 0.6755