CHF Weakens coming: AUDCHF ready to head higher... 200+ pips!
The pair has been trading in a weekly channel for a long time, more specifically, since mid 2015, there are no good reasons for the channel to be broken but there are reason for price to chill out and stick to the trend line for a little bit longer... this is a TREND trade. I am in, but I am looking for at least about 200 pips in gains over a matter of few days and I think it is very possible.
Last year, around this time, the pair reached the current level for the first time as a support in a long time, since them it has tested it multiple times (5 times without counting the this year) and it never broke it. It made lowes and lower lowers but it always went right back up.
This time there is no major news to support a push down, the CHF has been strong this week but that strength can't last forever, perhaps the pair will not head higher today, maybe it will... I can't predict that, but, I am almost certain that price action will head up soon.
Are you trading this pair? Let me know your ideas.
Seize those Pips!!!
Last year, around this time, the pair reached the current level for the first time as a support in a long time, since them it has tested it multiple times (5 times without counting the this year) and it never broke it. It made lowes and lower lowers but it always went right back up.
This time there is no major news to support a push down, the CHF has been strong this week but that strength can't last forever, perhaps the pair will not head higher today, maybe it will... I can't predict that, but, I am almost certain that price action will head up soon.
Are you trading this pair? Let me know your ideas.
Seize those Pips!!!