AUD/CHF seems to not have any more support to go any higher and a breakout of it's current support would bring the currency pair down about 200 pips and more.
This is a good short long term opportunity with a risk:reward of 1:2.
Always invest after your own analysis and always risk manage properly.
AUD/CHF is in a bearish trend and still has not any strong support to expect it to go any higher.
This is from my opinion a great opportunity to go short AUD/CHF for long term.
If you're looking for shorther term the your TP should be 0.75
Always invest after your own analysis and respect your rules!
Happy Trading :D
I just entered this AUDCHF SHORT trade. It seems that the price is going down to challenge the daily (green) seller zone.
There will be important news coming in about 2 hours. Hopefully the news will push the price to my target.
And, because of the news, I entered with a SL higher than I normally do and did a half position.
Let's see how it goes.
There is a possibility that AUD/CHF may continue it's downward descend further down.
Keep an eye on it, and invest after your full confirmation.
And as always, only invest after making your own analysis as well as money manage properly.
AUD/CHF is currently on a strong support.
A breakout and trend continuation upwards could very well happen if the actual support holds.
As always, money manage properly and trade professionally.
Sorry I've not been so active recently, been away for a week.
AUDCHF recently broke out from a strong downtrend and found resistance at the 38.2% fib level. Today the daily candle did retest this level and will be closing strongly below. We have the opportunity to short this pair and I will be watching closely on lower TF's before opening a sell order.
A break of the 50ema could open up the high side and retest the .7590 zone which would act as the upper parallel for the channel. If it fails to break above the 50 we have another trend line which would act as the upper parallel and push price back down to the .75 zone to create a new low.