AUDCHF (Price action analysis) - Continuing berish leg
Hello traders back on weekend analysis again for next week.
On AUDCHF we are again seeing this pair continuing its bearish push. On my previous analysis link below we can clearly see on daily chart that the support has once again been broken telling me the bearish push is once again in play.
Daily RSI barely broke the 50% level as well and now pushing back as well to the bearish area.
On the 4h the previous support was already retested and continued price action to the downside.
But i think we still have lots of room to move down based on this price action. We can still find patterns on the lower time frame aligning to this bearish move
scenario 1
scenario 2
consequently we dont want to do anything if price goes back to the consolidation range
let me know what u think.
this pattern is similar to CADCHF
On AUDCHF we are again seeing this pair continuing its bearish push. On my previous analysis link below we can clearly see on daily chart that the support has once again been broken telling me the bearish push is once again in play.
Daily RSI barely broke the 50% level as well and now pushing back as well to the bearish area.
On the 4h the previous support was already retested and continued price action to the downside.
But i think we still have lots of room to move down based on this price action. We can still find patterns on the lower time frame aligning to this bearish move
scenario 1
consequently we dont want to do anything if price goes back to the consolidation range
let me know what u think.
this pattern is similar to CADCHF
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