AUDCHF trade ideas
AUDCHF - a Bat in the makingThe Aussie has moved off a triple bottom from Aug 2023 to Feb 2024.
We can see an impulsive movement from 56 to 61. A chart may be seen as a recent double top or the formation of a H&S .
Furthermore, a Harmonic Bat Pattern may be in play. The target is the .886 retracement
of X-A , which sees price back into the prior consolidation range.
Momentum is bearish as well, with RSI <50.
Some support may be offered at the 200 MAV around 59. A break of this sees B point, and
thereafter the projected D point.
All currencies over time have withered to the Swisse, now is no different.
AUD/CHF MARKET STRUCTURE BREAKHello guys, i'm new in this trading platform and i want to share my thoughts on this instrumen, if we take a good look at this chart, the trendline is broken with a bearish candlestick indicating short term will continue downfall, please make sure to trade with a good money management!
note: Stop Loss is a must and mine based on previous swing high + 1*ATR
AUD/CHF BUYERS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
We are going long on the AUD/CHF with the target of 0.599 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band. However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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Audchf is bearishThe exchange rate between the Australian Dollar and the Swiss Franc is heavily influenced by global economic conditions, such as changes in inflation, interest rates, government policy, and geopolitical events. Additionally, the AUD/CHF pair is sensitive to currency-specific factors, such as changes in public debt levels and economic indicators specific to both countries.
AUDCHF: Strategic Shorts Awaiting Key PullbacksTechnical Analysis:
Weekly Chart: Last week's price action shows a clear shift in sentiment with a lower low and lower close, indicating potential for short positions on lower timeframes. In the long run, I believe the price is heading towards the next key area around 0.5869/61.
Daily Chart: The daily price action is a bit complicated as it currently interacts with the 61% Fibonacci level. However, Friday's price action shows a clear rejection from the upside, aligning with the weekly sentiment for short positions on the lower timeframe. In the week ahead, if the price continues to decline, the next area of caution would be the 78% Fibonacci level around 0.5908.
4-Hour Chart: Combining the weekly sentiment with the daily, it seems we are well-positioned for a short position. However, we won't rush into shorts unless the price reaches a key level for a pullback. On the 4-hour chart, there are two potential entry plans:
Plan 1: Since the current price action on the 4-hour chart is consolidating, we would like to see a pullback towards the top of the range and then target the bottom.
Sell Limit Entry: 0.5960/62
Stop Loss: Above 0.5967
Target: 0.5934/29
Plan 2: If the price doesn't pull back to the top of the range and instead breaks through the support, we should wait for the price to come back and retest the newly turned support-turned-resistance around 0.5929.
Sell Limit Entry: 0.5929/34
Stop Loss: Above 0.5940
Target(s): 0.5908, 0.5870
Fundamental Analysis:
There’s not much happening with AUD except for the Flash Manufacturing PMI on Wednesday, July 24th. On the other hand, CHF remains strong due to the current de-risking theme.
Hope you have a fantastic week ahead. Happy trading!
AUDCHF: Double Short Opportunities on Key LevelsTechnical Analysis:
Weekly Chart: Last week's price action shows a clear shift in sentiment with a lower low and lower close, indicating potential for short positions on lower timeframes. In the long run, I believe the price is heading towards the next key area around 0.5869/61.
Daily Chart: The daily price action is a bit complicated as it currently interacts with the 61% Fibonacci level. However, Friday's price action shows a clear rejection from the upside, aligning with the weekly sentiment for short positions on the lower timeframe. In the week ahead, if the price continues to decline, the next area of caution would be the 78% Fibonacci level around 0.5908.
4-Hour Chart: Combining the weekly sentiment with the daily, it seems we are well-positioned for a short position. However, we won't rush into shorts unless the price reaches a key level for a pullback. On the 4-hour chart, there are two potential entry plans:
Plan 1: Since the current price action on the 4-hour chart is consolidating, we would like to see a pullback towards the top of the range and then target the bottom.
Sell Limit Entry: 0.5960/62
Stop Loss: Above 0.5967
Target: 0.5934/29
Plan 2: If the price doesn't pull back to the top of the range and instead breaks through the support, we should wait for the price to come back and retest the newly support-turned-resistance around 0.5929.
Sell Limit Entry: 0.5929/34
Stop Loss: Above 0.5940
Target(s): 0.5908, 0.5870
Fundamental Analysis:
There’s not much happening with AUD except for the Flash Manufacturing PMI on Wednesday, July 24th. On the other hand, CHF remains strong due to the current de-risking theme.
Hope you have a fantastic week ahead. Happy trading!
AUDCHF Is Approaching The UptrendHey Traders, in tomorrow’s trading session we are monitoring AUDCHF for a buying opportunity around 0.59300, AUDCHF is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.59300 support and resistance area.
Trade safe, Joe.
AUD/CHF BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
We are going short on the AUD/CHF with the target of 0.595 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band.However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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AUDCHF Possible BUY AreaAUDCHF completed a W FCP pattern. This made the price fall. It has fallen hard and could possible be going towards the area where we have confluence of an FCP zone and 2 trend lines. This can be a good Buy area for a possible bounce up.
As always wait for the confirmation on the smaller time frame.
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