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AUDCHF trade ideas

AUDCHF: Strategic Shorts Awaiting Key PullbacksTechnical Analysis: Weekly Chart: Last week's price action shows a clear shift in sentiment with a lower low and lower close, indicating potential for short positions on lower timeframes. In the long run, I believe the price is heading towards the next key area around 0.5869/61. Daily Chart: The daily price action is a bit complicated as it currently interacts with the 61% Fibonacci level. However, Friday's price action shows a clear rejection from the upside, aligning with the weekly sentiment for short positions on the lower timeframe. In the week ahead, if the price continues to decline, the next area of caution would be the 78% Fibonacci level around 0.5908. 4-Hour Chart: Combining the weekly sentiment with the daily, it seems we are well-positioned for a short position. However, we won't rush into shorts unless the price reaches a key level for a pullback. On the 4-hour chart, there are two potential entry plans: Plan 1: Since the current price action on the 4-hour chart is consolidating, we would like to see a pullback towards the top of the range and then target the bottom. Sell Limit Entry: 0.5960/62 Stop Loss: Above 0.5967 Target: 0.5934/29 Plan 2: If the price doesn't pull back to the top of the range and instead breaks through the support, we should wait for the price to come back and retest the newly turned support-turned-resistance around 0.5929. Sell Limit Entry: 0.5929/34 Stop Loss: Above 0.5940 Target(s): 0.5908, 0.5870 Fundamental Analysis: There’s not much happening with AUD except for the Flash Manufacturing PMI on Wednesday, July 24th. On the other hand, CHF remains strong due to the current de-risking theme. Hope you have a fantastic week ahead. Happy trading!
Short
by iamfotx
AUDCHF: Double Short Opportunities on Key LevelsTechnical Analysis: Weekly Chart: Last week's price action shows a clear shift in sentiment with a lower low and lower close, indicating potential for short positions on lower timeframes. In the long run, I believe the price is heading towards the next key area around 0.5869/61. Daily Chart: The daily price action is a bit complicated as it currently interacts with the 61% Fibonacci level. However, Friday's price action shows a clear rejection from the upside, aligning with the weekly sentiment for short positions on the lower timeframe. In the week ahead, if the price continues to decline, the next area of caution would be the 78% Fibonacci level around 0.5908. 4-Hour Chart: Combining the weekly sentiment with the daily, it seems we are well-positioned for a short position. However, we won't rush into shorts unless the price reaches a key level for a pullback. On the 4-hour chart, there are two potential entry plans: Plan 1: Since the current price action on the 4-hour chart is consolidating, we would like to see a pullback towards the top of the range and then target the bottom. Sell Limit Entry: 0.5960/62 Stop Loss: Above 0.5967 Target: 0.5934/29 Plan 2: If the price doesn't pull back to the top of the range and instead breaks through the support, we should wait for the price to come back and retest the newly support-turned-resistance around 0.5929. Sell Limit Entry: 0.5929/34 Stop Loss: Above 0.5940 Target(s): 0.5908, 0.5870 Fundamental Analysis: There’s not much happening with AUD except for the Flash Manufacturing PMI on Wednesday, July 24th. On the other hand, CHF remains strong due to the current de-risking theme. Hope you have a fantastic week ahead. Happy trading!
Short
by iamfotx
AUDCHF Possible BUY AreaAUDCHF completed a W FCP pattern. This made the price fall. It has fallen hard and could possible be going towards the area where we have confluence of an FCP zone and 2 trend lines. This can be a good Buy area for a possible bounce up. As always wait for the confirmation on the smaller time frame. If you found this interesting please consider supporting this analysis by liking, commenting, and sharing with friends, colleagues, traders, and trading communities. Thanks👍🙂
Long
by vikinsa
Possible trade idea for AUD/CHFSo when we look at the chart we can see that the price has broken a trendline and that we are now retesting this trendline. What I want to do here is to see and go short. We do have to wait for the opening and wait for the London session to see what the price is going to do. But for now this could be a very nice trade to take here. We also have a support zone that we can see on the chart that was respected heavy in the past so if we do see that the price is going down I will be looking at this support zone to see what it will do.
Short
by MaBaCapital2
AUDCHF ShortDaily Bias Ranging Fundamental Analysis CHF bullish AUD Bearish Price Action: Price broken below the H4 S/R Level and close. Price has retrace back into the H4 S/R level and broken the H1 support level and close below it. Price is bearish from the H4 S/R Level. Price then break the H1 support level from ascending triangle. Price heading lower from price action. Confluence: Higher TF (W/D/H4) - Broken support level, getting close to bearish trendline Lower TF (H1/M30/M15) - broken S/R level and broke support trendline of ascending triangle Set up: Short trade at the S/R level H1 with SL above H1 swing high. TP at Range support level R:R 1:4
Short
by royschen07
AUDCHF Analysis: Bearish Reversal Expected to 0.5995-0.5932 After a robust bullish trend, AUDCHF is showing signs of a significant pullback. Based on key technical indicators and chart patterns, I anticipate a bearish reversal targeting the 0.5995-0.5932 and 0.5900 areas, with a stop loss at 0.6150. Reasons for Short-Selling AUDCHF: Overbought Conditions: The recent rally has pushed AUDCHF into overbought territory, as indicated by the RSI. This suggests that the upward momentum is waning, and a corrective move is imminent. Resistance Level: The pair has encountered a strong resistance zone near the recent highs. This resistance has been tested multiple times, failing to break through, indicating potential selling pressure. Bearish Divergence: There is a noticeable bearish divergence between the price and the RSI, signaling that the bullish momentum is weakening and a reversal is likely. Fibonacci Retracement: The pullback aligns with key Fibonacci retracement levels, reinforcing the likelihood of a bearish move towards the 0.5995-0.5932 and 0.5900 areas. Volume Analysis: Decreasing volume during the recent upward movement suggests a lack of buying interest, which often precedes a trend reversal. Trade Setup: Entry: Look for short-selling opportunities around the current levels. Targets: Aim for 0.5995, 0.5932, and 0.5900. Stop Loss: Place your stop loss at the 0.6150 area to manage risk. This setup presents a high-probability trading opportunity based on comprehensive technical analysis. Keep an eye on these levels and stay updated for more insights and detailed analysis! Feel free to adjust any details based on your specific observations and analysis. kindly (DYOA)
Short
by forexNetwork10
AUDCHF The Target Is DOWN! SELL! My dear friends, Please, find my technical outlook for AUDCHF below: The price is coiling around a solid key level - 0.5989 Bias - Bearish Technical Indicators: Pivot Points Lowanticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 0.6013 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
AUDCHF Channel Up intact. This pull-back is a buy opportunity.The AUDCHF pair is on the 3rd straight day of a strong short-term pull-back and just touched the 1D MA50 (blue trend-line) for the first time in almost 3 weeks. The long-term bullish trend remains intact though as the dominant structure is a 7-month Channel Up. As long as the 1D MA200 (orange trend-line) holds, we will remain bullish, targeting 0.62250 (+6.20% Bullish Leg, similar to the previous two). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot