There are indications of a potential reversal in the CHFAUD currency pair. The suggested stop loss is set at 1.626, which acts as a risk management tool to limit potential losses if the reversal doesn't materialize as anticipated. On the other hand, the take profit level is identified at 1.647, representing the desired price target.
It's important to note that...
I expect this to correct from its current position. It may drop a bit more within the red zone indicated before retracing. Targeting the area marked in Blue but 0.272, 0.5, and 0.618 on Fib are also marked as take profit targets.
CHFAUD is approaching our first resistance at 1.3412 (horizontal swing high resistance, 38.2%, 78.6% Fibonacci retracement, 100% Fibonacci extension) where it could potentially drop to our major support at 1.3204 (horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic is also approaching our major resistance where a reaction off this level might...
CHFAUD is approaching our first resistance at 1.3412 (horizontal swing high resistance, 38.2%, 78.6% Fibonacci retracement, 100% Fibonacci extension). A strong reaction might occur below this level, pushing price down to our major support at 1.3204 (horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic is also approaching our major resistance...
CHFAUD is approaching our first support at 1.3204 (horizontal swing low support, 100% Fibonacci extension). A strong bounce might occur above this level, pushing price up to our major resistance at 1.3412 (horizontal overlap resistance, 78.6% Fibonacci retracement).
RSI (55) is also seeing a bullish divergence and we might see a corresponding rise in price....
CHFAUD is approaching our first support at 1.334 (horizontal swing low support) which coincides with our short term ascending support line. A strong bounce might occur above this level, pushing price up to our major resistance at 1.3421 (horizontal swing high resistance, 61.8% Fibonacci extension). A breakout above our intermediate resistance at 1.3340 (horizontal...
CHFAUD broke out of our first support-turned-resistance at 1.3340 (horizontal pullback resistance) and short term ascending support-turned-resistance line. A strong reaction might occur below this level, pushing price down to our major support at 1.3216 (horizontal swing low support). Ichimoku cloud is also showing signs of bearish pressure, in line with our...
CHFAUD is approaching our first support at 1.3341 (horizontal overlap support, 50% Fibonacci retracement). A strong bounce might occur above this level, pushing price up to our major resistance at 1.3403 (horizontal overlap resistance, 50% Fibonacci retracement.
Stochastic (89,5,3) is also seeing a bullish divergence and is approaching our major support where a...
CHFAUD is approaching our first resistance at 1.3468 (horizonal overlap resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) which coincides with our short term descending resistance line. A strong reaction might occur below this level, pushing price down to our major support at 1.3339 (horizontal swing low support, 50% Fibonacci retracement)....
CHFAUD is approaching our first support at 1.3304 (horizontal swing low support, 100% Fibonacci extension). A strong bounce might occur above this level, pushing price up to our major resistance at 1.3601 (horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (21,5,3) is also approaching our major support and is...
CHFAUD is approaching our first support at 1.3312 (horizontal overlap support, 100% Fibonacci extension). A strong bounce might occur above this level, pushing price up to our major resistance at 1.3480 (horizontal overlap resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (89,5,3) is also approaching our major support and a bounce...
CHFAUD is approaching our first support at 1.3510 (horizontal overlap support, 61.8%, 100% Fibonacci extension, 61.8% Fibonacci retracement). A strong bounce might occur at this level, pushing price up to our major resistance at 1.368 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (21,5,3) is also...
