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...
After a long period of the downtrend, EU is finally showing signs of retracement.
We now have an ascending triangle. let's see which direction it'll breakout and open long or short positions accordingly.
EU has found temporary support at 1.07855 and what we've now is looks like a double bottom, but we'll have to look at the resistance right above it. In order to go long, we'll need to wait for a clear breakout of the channel first. EU has been in a downtrend for long, it would be surprising to see this downtrend continues without any correction. let's see.
I've been watching EU for quite some time now. Just noticed that it's painting a nice little inverse head & shoulder pattern after a long downtrend. In order for this pattern to be validated, we'll need a break above 1.08550 level. I've drawn a neckline, so we can place our buy orders once a clear break out is seen. profit target can be set at a later stage as we...
