Similar to the EURCHF, we can see price bouncing off a decending trendline and making the move lower
There is divergence on the lower timeframes which could indicate a fall on this pair as well
I believe we will see a break in support and a retest before a drop to support
The right shoulder has been formed. Creating a reliable head and shoulder pattern. Given the angle of the neckline, this seems to be a strong reversal signal. Possible downtrend to follow.
Wait for confirmation before entering position. Break of neckline 1st Confirmation. For further confirmation traders may wait for retest of neckline and if resistance holds,...
Once price breaks from the trend line we will sell down to the target area
There will be several pullbacks and it may take a few weeks if not months to get there but its a nice profitable trade for those who don't want to look at charts all day!
This pair broke out bullish after reaching support ( the point where it started moving up) . We've currently seen price move bearish into what i'd see as a pullback with potential to for price to bullish again and create new highs toward the price level marked with the green line which is also our take profit level.
ENTRY - Grey line
STOP LOSS - Red line
The Australian Dollar has been weak of late, and with the current risk off sentiment we are expecting a shift back into the worlds safe haven currencies of JPY and CHF.
Our favoured pair for the coming week is AUDCHF with a beautiful 15m bearish engulfing candle right off of our level of interest at 0.68630.
Initially this trade has been taken as a day-trade...
Price has been travelling inside a triangle and also inside a descending channel. This week the market opened with a large gap to the bottom of the channel and now it has started making its way up to the top of the channel.
As shown above we expect price to test the channel again downwards...
AUDCHF was travelling in a triangle marked out in blue but it has now broken out to the upside. while doing so price has formed an ascending channel,
We believe price is going all the way up to the furthest resistance zone from the previous large impulse move
A large descending channel is what price has been following, The most recent test on the channel was at the bottom of this channel. We saw a rally up from this test however it looks like its time to retrace before going back up to test or break out at the top of the channel.
Price has formed a triangle shown above and has broken out of it to the downside and has...