AUDCHF - Incoming Drop

OANDA:AUDCHF   Australian Dollar / Swiss Franc
AUDCHF is in a bearish trend on the 4H and without support.

We can expect it to fall further below.

Place your SL anywhere near the last high and TP levels as shown on the chart.

Trade safe.
Order cancelled
Comment: Trade was canceled since prices weren't able to hold under the 50 EMA and went higher up enough to cancel the bearish trend.

What we can expect next is consolidation and retest of the 50 EMA on the 4H chart.

We may have more upward movement on the long term if prices hold strong.
Comment: As expected, prices broke on top of 4H 50 EMA and found support on top of it, only to move higher up.

At the current moment, it is not yet clear which direction this pair is going to take. Here is what we can expect: Given enough high test confirmations that the pair can't make a move up, we can short it further down. From it's look, a push down further is more likely to happen, but again, we have to wait for the confirmation. In the opposite scenario, if the pair finds support, wait for enough low test candles confirming it can't go down to buy.


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