FXtrades-gp

AUDCHF: The price is still Growing in the CHANNEL

Long
FX:AUDCHF   Australian Dollar / Swiss Franc
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🟢Forex Pair:
AUD/CHF

Technical Analysis:
Since the 27th of January 2021, the price has been moving following an interesting ascending channel , once it reached and got a quick rejection on the support zone at about 0.67500.
It bounced few times on its dynamic channel's lines, that would confirm the validity of that pattern and it's currently retesting the S/R zone at about 0.68200.
The next price action around that area will be essential to understand the next market movement.

🔴Conclusion:
The current S/R zone rejected the price many times since December 2020 and I'm confident to see an upcoming new bullish impulse, moving the price up inside its channel, trying to reach the next resistance zone at about 0.69000.
I'll be waiting for a proper rejection on the current level before planning my long position on this trade.

Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!

⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni

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Comments

Great job
+1 Reply
FXtrades-gp Investroyllc
@Investroyllc, thanks so much!!
Reply
I like how you've tackled this analysis.
+1 Reply
@abel11, oh, what a pleasure! :) thank you
Reply
Thanks for sharing this too
+1 Reply
FXtrades-gp Samoburger
@Samoburger, you're welcome! thanks so much
Reply
yes mate totally agree!
+1 Reply
FXtrades-gp TopTradingSignals
@TopTradingSignals, I'm glad to hear that! :)
Reply
yes mate totally agree!
+1 Reply
FXtrades-gp ProSignalsFx
@ProSignalsFx, many thanks! are u holding a position?
Reply
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