From the larger timeframe, AUDCHF formed an inverted H&S pattern. It failed to rally and retraced back to 38.2% of the rally. This tells us that the inv. H&S is still in play. Switching to H4 charts, with the help of the median line we see how price has been playing out. A risky trade would be to long at 0.822 - 0.8219 regions with stops below 0.81209. A safer...
I think the AUDCHF is slowly completing its correction and is about to resume the uptrend. I find it likely to bounce off of two warning lines at the greenish support level that marks roughly the half of the completed May impulse wave. The AUD is clearly oversold, but I don't find it weak; rather neutral. The CHF is relatively overbought, but its relative strength...
AUDCHF rallied to 8388, to top channel TL. The ABCD has been completed @8368, spiked higher and ret. only to 23.6fib. The spike down almost closed the gap to the breakout level. Expected ret. to at least 38.2 if the PA will cont. upwards. Good support at 83 level. Possible dropping to lower channel boundary but so soon. The strong RSI div. shows exhaustion of this...
The most accelerated Tentative Down Trendline is broken. Two Tentative Up Trendline in place.
The AUDCHF is totally overbought on the 4 hours chart beside it's at the edge of a strong resistance level. It probably needs to take a step back to try to pierce it and take it's breath after such a strong push.
AUDCHF may have found support just below the median line and may start oscillating around the median line. While it's currently being coerced by two opposing forces (the impulsive bullish one and the corrective bearish one) it seems to be moving up in terms of down slope and staging bullish price action above the horizontal support at 0.812. So it's possible that...
I may have missed the boat on this one, as today's strong bullish candle suggests the ideal entry signal may have been the doji that appeared at support yesterday. But I'll put an order on to see if we get a pullback. I'm set to go long at 8122, with my target profit at 8302 and my stop at 8081. I like the setup -- now let's see if it can end up getting filled, or...
38.2% and 61.8% Fibonacci Retracement are the most popular Levels. In this case they are used as Support Levels. Resistance Levels may become Support Levels. If Bulish view. you can use this Levels to Entry Long.
The most accelerated Tentative Down Trendline is broken. New Tentative Up Trendline in place.
As described in the chart linked we have reached the expected retracement level and can follow the interimistic upward tendency again to see target B.
If this fork is going to hold, I expect the price to get at least to 0.8245. I like the support level below, so any SL orders should be placed below 0.814. The aussie has been performing below its recent 'true potential', became overbought (by my measures), so I expect it to strengthen in coming hours. On the other hand, I find the Swiss franc pretty weak, but...