Don't be surprised if AUDCHF continues lower. here's my take.

Australian Dollar / Swiss Franc (OANDA:AUDCHF)

Updated

OANDA:AUDCHF Australian Dollar / Swiss Franc

triangle audchf audchfforecast audchfsignal audchfbreakout audchfanalysis audchfprediction

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 it'll head from here.

Comment:

I'll be looking for a long above breakout of 0.6350 that'll signal a change in the trend.

Comment:

We've a clear breakout of the triangle to the upside. let's see how it trades near 0.6350 zone. a clear breakout will trigger our buy stop.

Comment:

We have a falling wedge on 15 min which just broke to the upside. I'm in at 0.6325

Trade active

Comment:

Loosing momentum. setting stop loss to entry.

Trade closed: stop reached:

Stop-loss has been hit at entry.

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