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AUD/CHF Potential Upward Movement

AUD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.7227, 0.7332, 0.7425

Key Support Levels: 0.7089, 0.7026, 0.6884

Daily Chart:

The price on the higher time frame is trending to the upside by posting higher lows and highs and by respecting the white trendline. Recently, the price posted a correction count in a form of a bullish flag formation.

AUD/CHF Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the price is trading inside this bullish flag pattern where we expect a correction to the area of confluence which is made by a support and the 61.80% Fibonacci retracement level around the 0.7089 USD mark. This could lead to a move upward to the 0.7187 USD level.

Signal Idea:

Buy Limit Order @ 0.7093

TP 1 @ 0.7187

TP 2 @ 0.7227

Stop Loss @ 0.7047

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

2 comments

  1. Why the update is so delayed ? Buy order was trigger almost 12 hrs before but only now updating in Telegram.

  2. Hi brand new to your service. I’m in the AUDCHF trade. At what point do you recommend moving the SL to BE? Is there a certain amount of profit that needs hit in percentage for example or is every trade different? Do you announce BE suggestions on Telegram? Thanks!

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