AUDCHF - Bullish BiasAUD - BULLISH
1️⃣ Australia posted the largest trade surplus on record, as exports surged 6% to a ten-month high, while imports fell 2% to a three-month low amid improving global demand as more countries reopen their economies following an easing of COVID-19 lockdowns, while retail sales rose by 0.5% month-over-month.
CHF - BEARISH
1️⃣ Expectations of a robust economic revival fueled by the rapid rollout of vaccines and additional fiscal spending raised investors’ appetite for riskier assets.
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Technical
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We are looking to buy the AUDCHF at support + above SMA 50 on the H1 chart.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
Audchflong
AUDCHF BUY SIGNALRead the chart
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AUDCHF Intraday Trade Opportunity - Long Opportunity!!This will be a short term long opportunity!!! As of now, I am expecting a rejection from 161.8% fib level. We managed to see a 261.8% fib level fall all the way till this level but 0.7053 support level is rather strong and I expect some BULLISH pressure here for AUDCHF. If you wish to enter always remember shifting SL to entry after we see some movement to the upside or close the trade in quick profit.
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CHF/AUD TP Hit, Look For RetraceThis has just hit TP on previous posts for this pair. Now looking for this to retrace and possible re-entry for shorts. Fibonacci obviously depends where this current downward move ends but currently 0.382 aligns with previous structure so this makes sense to be the area this could retrace to. Then need to see bounce from this resistance lower.
I'm currently setting target as 1.4130 for that next move but I will make a new post for this if and when the retrace comes.
AUDCHF - Bullish BiasAUD - BULLISH
1️⃣ Market participants remained cautiously optimistic as US Democrats cleared the path for the approval of President Joe Biden’s US$1.9 trillion COVID-19 relief package, while Speaker Nancy Pelosi predicted the final relief legislation could pass Congress before March 15.
2️⃣ Progress in coronavirus vaccinations continued fueling hopes for a strong global economic recovery.
CHF - BEARISH
1️⃣ Signs of progress on additional US stimulus measures pushed the yield on the benchmark 10-year government bond to near 10-month high touched in January.
2️⃣ SNB policymaker Andrea Maechler argued that benefits of negative rates outweigh the disadvantages and noted that the CHF's strength would put the Swiss economy in a much worse position if not for negative rates.
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Technical
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We are looking to buy the AUDCHF on the RBS + above SMA 50 on the H1 chart.
Expecting a bounce off converging supportsPOC line from VPVR and 2 strong trendlines converging at the same point.
Also, the last candle was a strong rejection with a Doji candle.
Expecting at least a retest of the new highs for a 3.9RR initial profit.
Stop loss below the strong support.
Price would have a VERY hard time going past all of the past consolidations from the beginning of December... so the uptrend will likely continue from here!
simple
Here is a look at the RSI from the 1H chart going up, indicating that the market is getting stronger even if the price has not gone up yet!
AUDCHF Trend Continuation Long (Buy) Trade Setup IdeaAUDCHF has come back to an area of interest and is reacting from this demand zone nicely. We're looking for buys here with targets to the upside. This could break the supply at the top and continue it's trend to the upside but even without breaking the supply, it's still a 1:6 setup.