AUDCHFAUDCHF is trading in falling wedge pattern. The price was reacting well the support and resistance of wedge.
Currently the price is about to give breakout from falling wedge and after successful retest of the level will be bullish signal and seems like the price may go for another leg higher.
If the breakout sustain to upside the optimum target could be 0.5750 followed by 0.5780.
What you guys think of this idea?
Axybullish
GOING LONG IN AUDUSD | TRADING STRATEGYBullish Indications
1. Series of Higher Highs and Lows
2. Significance Support Area at Entry Point
3. AUD Index is Bullish
4. USD Index is Bearish/Sideways
5. Volumes are increasing as the price is in the range
Bearish Indications
1. Break 0.236 Fib level support
2. Recently Formed Double Top which is a reversal pattern
3. Break Trend line support
AYX to 137AYX recently started a new impulse wave and completed wave 1. Currently, in wave 2, correcting wave 1.
Our target for wave 3 is 137.