D1 - Price is bouncing higher from a strong support zone.
Currently it looks like a pullback is happening.
Expecting further continuation higher after this pullback.
H4 - Currently it looks like a flat correction is happening in the form of a range.
Until the key support zone holds my view remains bullish here.
If the price breaks and...
today’s day trading analysis will be on AUD/CHF. But before we start here is some news for you:
Recently, I made a private Volume Profile webinar. You won’t find it available for public on YouTube or anywhere else, but you can get to it by clicking the gray banner at the top right of this page (saying Volume Profile Webinar, Watch Now)....
AUDCHF on the daily chart has retested the descending channel trendline.
The market after the attempt to break below the weekly support retraced to the 0.618 Fibonacci level and now is trading over a support area.
According to Plancton's strategy if the Academy rules will be satisfied we can set a nice short order.
Follow the Shrimp 🦐
Keep in mind.
AUDCHF is plummeting at the market open today prior to the CHF trade balance data, which reveals the balance of imports and exports in Switzerland. Technically the pair is rebounding out of the fibonacci golden pocket resistance, and we are looking for downside into the 0.6650 level.
The blue and red lines mean: I think prices can return in these areas.
Green lines mean: I think the price can reach these areas. They are therefore known as transaction targets.
If you want to use this deal, please risk only one percent of your account balance.
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Colour key: Blue = monthly, Pink = weekly, Grey = daily/4h/1h
I've marked out some key supply and demand (S&D) zones, as well as some key levels and a bearish channel. Personally, i think we'll see price react to the downside when it enters the monthly S&D zone as opposed to falling from the channel, but my SL...
The pair should continue its short term downtrend movement. The price is in fact blocked by the oblique resistance H4.
In this configuration the best option is to place a short order with a stop loss above 0.6789 and a take profit around 0.6640.
From the H4 chart, we can see a nice falling/expanding triangle which indicates a bullish continuation patter.
Tp at the next possible resistance zone which was formerly support. Stop loss at a safe point incase we are wrong.
1:4 risk to reward.
Here is our technical outlook on AUDCHF.
The level where the price is trading right now is decent
and the price will most likely bounce from that.
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