Actually regular bullish divergence on MACD
Watching price crossing red trending line
Long if crossing upwards in green area
Cautious if going in red area
Primary bullish target 1217.50
Keeping an eye on 1243.60 take some profits there
Stop loss 1199.55
Price @ Bottom Of Daily Channen
.382 Tracement of 2nd UP AB SWING
Major Pivot Point (marked with BLUE CIRCLE)
First Target @ Major Daily Resistance (before UP boundary of the Daily Channel
AUD - INTEREST RATE 1.75%
SWISS INTEREST RATE -05%
Many are suggesting that this pair could drop even further and make new lower low and have cited potential bearish H&S pattern and prior strong bearish move to support the idea of continuation of the bearish trend.
However I do not feel that this is likely for the following reasons:
1. Having dropped from 2008 ...