A bullish signal on the AUD-CHF Daily chart, with the target in the area 0.7340/0.7375 and stop loss at 0.6955/0.6960. As often happens with this pattern, it's possible a pullback on the blue trendline.
FX:AUDCHF was taking a beating for last 20 trading days. Now the bears are done with it. Bulls are overtaking Bears and it is visible with bullish price action of the AUDCHF. The RSI crossover on the MA is good signal to suggest we are entering a Bull run.
E : Below 0.7350
SL : 0.7280
TP : 0.7450
AUD/CHF seems to be in a bullish continuation pattern. If the current support holds we can expect it to go further higher up about 100 pips.
The more you wait for the confirmation before entering, the less unprofitable positions you will get into.
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
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.