AUDCHF (1D): Strong Rejections for a Sell
Updated
AUDCHF Timeframe: 1D
Direction: Short
Confluences for Trade:
- Bearish Engulfing Candle (Daily)
- Stochastics Overbought Condition (1D)
- Rejection of 50% Fibo line
- Rejection of Horizontal Trendline (since Feb 2018)
- Price action reversed against Resistance of the Parallel Channel
- Fundamentally, AUD is pressured downwards with the growth concerns lingering around China and trade war issues not resolved. The CHF will most likely continue to act as a safe haven pair if market volatility remains.
Suggested Trade:
Entry @ Area of Interest 0.7245 - 0.7330
SL: 0.7367
TP: 0.7057
RR: Approx. 2.04 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Trade active
Note
Lock in half profits and move SL to BE.Run remaining position totally risk free.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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