Delving into AUDCHF, I've spotted a compelling SHORT setup. Technical indicators signal bearish momentum, with the pair failing to surpass key resistance and forming a descending triangle pattern, suggesting a downward breakout is imminent. Accompanied by bearish MACD divergence and an RSI trending below the midpoint, the stage is set for a decline.
Economically, the Australian Dollar faces headwinds from fluctuating commodity prices and uncertain global trade conditions, which could dampen AUD strength. In contrast, the Swiss Franc benefits from its safe-haven status amidst ongoing market volatility, bolstering the case for a SHORT position.
Entering this trade, I’m targeting strategic entry points just below the triangle's support, with defined targets and stop-losses to manage risk effectively. This SHORT strategy aims to capitalize on the anticipated depreciation of AUD against CHF, leveraging technical patterns and economic factors for a calculated approach to potential profits
Economically, the Australian Dollar faces headwinds from fluctuating commodity prices and uncertain global trade conditions, which could dampen AUD strength. In contrast, the Swiss Franc benefits from its safe-haven status amidst ongoing market volatility, bolstering the case for a SHORT position.
Entering this trade, I’m targeting strategic entry points just below the triangle's support, with defined targets and stop-losses to manage risk effectively. This SHORT strategy aims to capitalize on the anticipated depreciation of AUD against CHF, leveraging technical patterns and economic factors for a calculated approach to potential profits
Trade closed manually
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