Here we go.
Here is my setup for this pair.
I'm waiting for retest for best entry and safety.
If you have any idea leave comment below. Glad to hear that.
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AUD/CHF (H4 Timeframe)
A medium to high probability, entry to go SHORT is forming @ 0.69940 after the market found resistance @ 0.72270. Only the upward break of 0.72270 would cancel this bearish scenario.
Stop loss: 0.72270
Take profit 1: 0.68565
Take profit 2: 0.66235
Take profit 3: 0.62437
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 long-term trend for AudChf is clearly down and after the V shape recovery from 0.54 low the pair spent the last 4 month in a consolidation.
Now this range is broken down and I expect a continuation south.
In my opinion, rallies should be sold in search of a R:R of more than 1:2
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.
⚡️ From starting of the year The price felled towards 0.53420 and making a bigger downward impulsive move which is around 20% drop from January 2020.After that the AUDCHF managed to gain most of the loses its earlier incurred.
⚡️ After reaching June high which is 0.67430 the price unable to push further trading in sideways until September 02 afterwards...
Here you can see R zone that became S zone and where the price could go and where we can expect
a revers or little range situation .
Hope you can understand :) .
Fundamental data can change the situation very fast in our current time .