Same as AUDCAD, we broke a daily resistance, if we now come back to test around 0.67100 and confirm that this level holds as now support, i will enter a long position
On timeframes >= H1 we are on a bull run.
On timeframes < H1 we can see that we've broken structure by violating a minor resistance line towards the upside of our trend channel.
It has been retested and appears to be working as a new resistance.
Longs can be placed with SL in line with wicks of most recent retests.
Personally I'm going to set one up for the scalp...
welcome to a new free trading-setup.
Note: This is meant to be a preparation! As always we will have to wait for a confirmation!
AUD/CHF: Daytrade-Preparation
Market-Buy: 0,67175
Stop-Loss: 0,66820
Point-Of-Riskreduction: 0,67450
Take-Profit: 0,67960
Stop-Loss: 35 pips
Risk: 0,5% - 1%
Risk-Reward: 2,23
...
AUDCHF 4H timeframe analysis, the market structure is currently ranging so i'm expecting it to buy at support right now for +80 PIPs, but i'm waiting for price action signal and other confirmations before i buy it.
The counter has been in a 5-wave bull cycle.
Now, it is in the wave 4 phase which results in a bearish correction.
Hence, we expect the pair to be bearish in the near-term.
AUD - BULLISH
1️⃣ The global risk sentiment remained well supported by the optimism over the COVID-19 vaccine.
CHF - BEARISH
1️⃣ Improving in risk sentiment weighing on the CHF.
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Technical
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We are looking to buy the AUDCHF at the support of 0.6680 + above SMA 50 on the H1 chart.
AUD - BULLISH
1️⃣ Preliminary data showed that the IHS Markit Australia Composite PMI increased to 54.7 points in November from 53.5 in the previous month, with Manufacturing PMI posting the highest reading since 2017, while the Services PMI posted the highest reading in four months and expanding for third consecutive month.
2️⃣ The Risk-On tone boosted the...
AUDCHF is approaching support, at 0.66298 where it could potentially rise further to 0.66629.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
Hello Traders, Could AudChf be making a low? I think so......I will update the idea if necessary. Ask any questions in the comment section. Remember to buy low and sell high. Thank you.
