#AUDCHF correction prevails
Updated
----------AUDCHF LONG-----------
While everybody is looking for short trading on AUDCHF I see more room to the upside. I am not convinced we are witnessing a reversal at the moment however I do think the curve has some upside potential. Given the fact that this pair has been tanking for the past months and years a reversal can happen anytime. But since we are approaching a risk-off sentiment in the coming months or so I am not really bullish on this. Until then this pair can correct slowly. I target the monthly level (red) to the upside and see whether there will be enough power from the bulls to push the curve through it. Then I will decide to leave a partial position in it or close the trade entirely.
While everybody is looking for short trading on AUDCHF I see more room to the upside. I am not convinced we are witnessing a reversal at the moment however I do think the curve has some upside potential. Given the fact that this pair has been tanking for the past months and years a reversal can happen anytime. But since we are approaching a risk-off sentiment in the coming months or so I am not really bullish on this. Until then this pair can correct slowly. I target the monthly level (red) to the upside and see whether there will be enough power from the bulls to push the curve through it. Then I will decide to leave a partial position in it or close the trade entirely.
Note
Was a nice idea indeed :)
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