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Technician
Sep 11, 2014 1:42 AM

AUDCHF: Bullish-Trend Resumption! Long

Australian Dollar/Swiss FrancFXCM

Description

Update: Haven't longed this one, as there were no clear signal over the four-hour time interval. Will continue to monitor
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There is a good chance for price resuming the bullish trend after the recent pullback. The pullback was largely expected as price has hit a major long term resistance among 0.8710-0.8755.

I am looking for long positions for now, targeting initially the aforementioned resistance level, i missed the initial long entry, where price is currently moving higher, i would like to see a minor downside pullback now to initiate a long. A break back below 0.8490 would negate this scenario.

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My best regards,
Technician
Comments
Technician
Haven't longed this one, as there were no clear signal over the four-hour time interval. Will continue to monitor.
HamedAghajani
Thanks Luay. Here we learn that patience will pay off in all forms.
HamedAghajani
Thanks for the idea. Would you please post your trade set-up, once it has materialized. Kindly- Hamed
Technician
Yes sure if i find a good entry.
manijeh.kazemi.33
Hi technnician Hope you are fine what is zoar view on this pair now
FaultyKid
Would you consider this a break-out too?
manijeh.kazemi.33
I agree with idea hamed if its no trouble for you
manijeh.kazemi.33
thanks technician for this post
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