As we suggested earlier, the counter is currently in an ABC and has moved down significantly.
Now, it is forming a triangle in the short-term charts.
We advise our users to either sell at the resistance of 0.665 or when the price breaks down below 0.651.
AUD - BULLISH
1️⃣ Investors moved away from the US Dollar as US President Donald Trump called for Congress to pass legislation for airlines, small businesses, and stimulus checks of $1,200 for Americans.
2️⃣ Investors were also optimistic on the prospects of economic recovery in Australia after Treasurer Frydenberg handed down the expansionary federal budget on...
As you can see price reached a strong support area and I believe it is going up to resistance area.
The question is when to enter the long position ? I think we can wait for possible retest or retests of support area and enter the position with better Risk/Reward ratio. Our target is a few pips below 0.66000 and stop loss should be a few pips below our support...
As we can see AUDCHF managed to bounce off 61.8 fib level where there is a strong support level after a clear breakthrough of that level. A clear rejection can be seen followed by a small BULLISH movement. What I am seeing will be price level moving tpwards the next resistance level as it retest every levels it broke (e.g. 0.6628 support level). BULLISH strength...
welcome to new free trade-setup.
Notice: This is meant to be a preparation for you! As always we will have to wait for a confirmation!
Target 1: 0,66900
Target 2: 0,67130
Target 3: 0,67450
Stop-Loss: 44 pips
Risk: 0,5% - 1%
If you look at the daily chart, it has formed a nice cup pattern. This is the reason Im looking for buy opportunists. Using the AB=CD strategy, I will be waiting for it to come to the 61.8% fib retracement, forming the C, and buying from that area, if price action shows me its going to go up!
Your thoughts area welcome though!
Hey everyone, there seems to be something brewing in the audhcf. On the greater term we have popped out of a triangle we've been in since june and have seen a small correction. As my elliottwave analysis shows, we are in the wave 4 of a greater 5 wave move, and are about to be on our way much higher. The current support will be a bit below the 3 previous swing...