USDCHF broke out of the bullish channel however came back to retest the 50% fib retracement area which is in confluence with the expected retracement resistance area & 200 ema cross over the downside. Our bias is price is going down south.
This is my personal analysis for AUDCHF, on the daily TF market has been trending bearish with 3 touches on the daily TF trendline, narrowing down to the 4 hour market made a double buttom followed by a fake - out. The pair has aggressively been bullish since the double buttom confirmation and currently at a confluence of two resistance namely
1. The previous...
CHFJPY has currently created a double bottom and currently rejecting at monthly low last tested september this year. This is second try at 106.800 range and sellers are out of steam again with a bullish engulfing close to confirm the double top, this market is setup for a bullish ride and hopefully fundamentals doesn't ruin the show, personally i Favour a buy.
USDJPY has given a double rejection on the trendline after the bulls had a go and failed again between the 108.000 & 108.500 range. The bears are in and ready to stay. Looking for shorts in the smaller TF
The buy pressure for EURUSD has finally come in after waiting for two days. The bears couldn't break the 1.09000 price mark and the bears are out of steam. I will be looking for a buy in the smaller TF.
Market is currently at monthly lows of 0.66800 after the fourth test this year and no break through yet. The buyers are in with sights to 0.68600. Confirmation is the bullish engulfing 4 hr Candle stick at the monthly zone