AUDCHF are we close to a bearish movement?
Main items we can see on the chart:
a) The price broke an ascending trendline
b) After that, we can see a huge corrective channel (purple lines)
c) Currently, the price made a small breakout, and we can see a slight correction on the edge of it.
d) IF the price breaks below the structure and reaches the red line, we will take it as a solid confirmation of the short view
e) Our Target will be the lower trendline of the weekly channel
a) The price broke an ascending trendline
b) After that, we can see a huge corrective channel (purple lines)
c) Currently, the price made a small breakout, and we can see a slight correction on the edge of it.
d) IF the price breaks below the structure and reaches the red line, we will take it as a solid confirmation of the short view
e) Our Target will be the lower trendline of the weekly channel