CHFAUD trade ideas
AUD/CHF BUYERS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
We are going long on the AUD/CHF with the target of 0.599 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band. However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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Audchf is bearishThe exchange rate between the Australian Dollar and the Swiss Franc is heavily influenced by global economic conditions, such as changes in inflation, interest rates, government policy, and geopolitical events. Additionally, the AUD/CHF pair is sensitive to currency-specific factors, such as changes in public debt levels and economic indicators specific to both countries.
AUDCHF: Strategic Shorts Awaiting Key PullbacksTechnical Analysis:
Weekly Chart: Last week's price action shows a clear shift in sentiment with a lower low and lower close, indicating potential for short positions on lower timeframes. In the long run, I believe the price is heading towards the next key area around 0.5869/61.
Daily Chart: The daily price action is a bit complicated as it currently interacts with the 61% Fibonacci level. However, Friday's price action shows a clear rejection from the upside, aligning with the weekly sentiment for short positions on the lower timeframe. In the week ahead, if the price continues to decline, the next area of caution would be the 78% Fibonacci level around 0.5908.
4-Hour Chart: Combining the weekly sentiment with the daily, it seems we are well-positioned for a short position. However, we won't rush into shorts unless the price reaches a key level for a pullback. On the 4-hour chart, there are two potential entry plans:
Plan 1: Since the current price action on the 4-hour chart is consolidating, we would like to see a pullback towards the top of the range and then target the bottom.
Sell Limit Entry: 0.5960/62
Stop Loss: Above 0.5967
Target: 0.5934/29
Plan 2: If the price doesn't pull back to the top of the range and instead breaks through the support, we should wait for the price to come back and retest the newly turned support-turned-resistance around 0.5929.
Sell Limit Entry: 0.5929/34
Stop Loss: Above 0.5940
Target(s): 0.5908, 0.5870
Fundamental Analysis:
There’s not much happening with AUD except for the Flash Manufacturing PMI on Wednesday, July 24th. On the other hand, CHF remains strong due to the current de-risking theme.
Hope you have a fantastic week ahead. Happy trading!
AUDCHF: Double Short Opportunities on Key LevelsTechnical Analysis:
Weekly Chart: Last week's price action shows a clear shift in sentiment with a lower low and lower close, indicating potential for short positions on lower timeframes. In the long run, I believe the price is heading towards the next key area around 0.5869/61.
Daily Chart: The daily price action is a bit complicated as it currently interacts with the 61% Fibonacci level. However, Friday's price action shows a clear rejection from the upside, aligning with the weekly sentiment for short positions on the lower timeframe. In the week ahead, if the price continues to decline, the next area of caution would be the 78% Fibonacci level around 0.5908.
4-Hour Chart: Combining the weekly sentiment with the daily, it seems we are well-positioned for a short position. However, we won't rush into shorts unless the price reaches a key level for a pullback. On the 4-hour chart, there are two potential entry plans:
Plan 1: Since the current price action on the 4-hour chart is consolidating, we would like to see a pullback towards the top of the range and then target the bottom.
Sell Limit Entry: 0.5960/62
Stop Loss: Above 0.5967
Target: 0.5934/29
Plan 2: If the price doesn't pull back to the top of the range and instead breaks through the support, we should wait for the price to come back and retest the newly support-turned-resistance around 0.5929.
Sell Limit Entry: 0.5929/34
Stop Loss: Above 0.5940
Target(s): 0.5908, 0.5870
Fundamental Analysis:
There’s not much happening with AUD except for the Flash Manufacturing PMI on Wednesday, July 24th. On the other hand, CHF remains strong due to the current de-risking theme.
Hope you have a fantastic week ahead. Happy trading!
AUDCHF Is Approaching The UptrendHey Traders, in tomorrow’s trading session we are monitoring AUDCHF for a buying opportunity around 0.59300, AUDCHF is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.59300 support and resistance area.
Trade safe, Joe.
AUD/CHF BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
We are going short on the AUD/CHF with the target of 0.595 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band.However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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AUDCHF Possible BUY AreaAUDCHF completed a W FCP pattern. This made the price fall. It has fallen hard and could possible be going towards the area where we have confluence of an FCP zone and 2 trend lines. This can be a good Buy area for a possible bounce up.
As always wait for the confirmation on the smaller time frame.
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Possible trade idea for AUD/CHFSo when we look at the chart we can see that the price has broken a trendline and that we are now retesting this trendline.
What I want to do here is to see and go short. We do have to wait for the opening and wait for the London session to see what the price is going to do. But for now this could be a very nice trade to take here.
We also have a support zone that we can see on the chart that was respected heavy in the past so if we do see that the price is going down I will be looking at this support zone to see what it will do.
AUD/CHF BUYERS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
It makes sense for us to go long on AUD/CHF right now from the support line below with the target of 0.602 because of the confluence of the two strong factors which are the general uptrend on the previous 1W candle and the oversold situation on the lower TF determined by it’s proximity to the lower BB band.
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AUDCHF ShortDaily Bias Ranging
Fundamental Analysis
CHF bullish AUD Bearish
Price Action:
Price broken below the H4 S/R Level and close. Price has retrace back into the H4 S/R level and broken the H1 support level and close below it. Price is bearish from the H4 S/R Level. Price then break the H1 support level from ascending triangle. Price heading lower from price action.
Confluence:
Higher TF (W/D/H4) - Broken support level, getting close to bearish trendline
Lower TF (H1/M30/M15) - broken S/R level and broke support trendline of ascending triangle
Set up: Short trade at the S/R level H1 with SL above H1 swing high. TP at Range support level R:R 1:4