WEEKLY TIMEFRAME
AUD/CHF has been in a downward trend for a while and currently we see price consolidation within a range between HIGH =0.68400 and LOW=0.66900
and respecting the 61.,8% fib level of the previous lower high.
Also we see a clear support in the weekly timeframe which gives us a possible bounce to test the resistance level around =0.68400 which is the lower high price which rejects the 61.8 fib level in weekly timeframe
DAILY TIMEFRAME
From the consolidation region we clearly see price breaking market structure temporary . meaning we might see a shift in momentum to the upside for a potential long position.Also price found clear support on weekly and we see price reject the support with high momentum.
H4 &H1 TIMEFRAME
After confirming a shift of momentum, we see price sitting at 61.8% retracement after a short bull run. and also respecting the support level of the broken resistance and also the weekly support
our AUD/CHF LONG
target1=0.68200
target2=0.68800
thank you and please follow me to get more updates
AUD/CHF has been in a downward trend for a while and currently we see price consolidation within a range between HIGH =0.68400 and LOW=0.66900
and respecting the 61.,8% fib level of the previous lower high.
Also we see a clear support in the weekly timeframe which gives us a possible bounce to test the resistance level around =0.68400 which is the lower high price which rejects the 61.8 fib level in weekly timeframe
DAILY TIMEFRAME
From the consolidation region we clearly see price breaking market structure temporary . meaning we might see a shift in momentum to the upside for a potential long position.Also price found clear support on weekly and we see price reject the support with high momentum.
H4 &H1 TIMEFRAME
After confirming a shift of momentum, we see price sitting at 61.8% retracement after a short bull run. and also respecting the support level of the broken resistance and also the weekly support
our AUD/CHF LONG
target1=0.68200
target2=0.68800
thank you and please follow me to get more updates