Based on our technical analysis on higher timeframes with AUDCHF, we see a potential for a SELL opportunity for the month of February.
Drawing a fib from October 2020's low to January 2021's high, we can see that price is hovering right in the possible SELL zone for Bears to enter. If price does not break the 6.18% level (on the fib drawn) then Bears can definitely enter for the month to take it down to our Take Profit (TP) area labeled "Possible Exit for SELLS" on this Trade Plan. The 21 EMA (hot pink line) was also added to this Plan for another confluence.
Let's see what February 1st brings for us.
Drawing a fib from October 2020's low to January 2021's high, we can see that price is hovering right in the possible SELL zone for Bears to enter. If price does not break the 6.18% level (on the fib drawn) then Bears can definitely enter for the month to take it down to our Take Profit (TP) area labeled "Possible Exit for SELLS" on this Trade Plan. The 21 EMA (hot pink line) was also added to this Plan for another confluence.
Let's see what February 1st brings for us.