Hi Traders! We have AUDCHF bullish setup forming at the moment. A detailed analysis of this buy opportunity is as follows:
AUDCHF D1 Chart:
On the daily chart we have a good downtrend line that has formed and the price which was respecting this dynamic resistance so far has currently broken above it. We may consider this as an evidence of bullish pressure and we may now look for more evidences of bullish pressure on lower timeframes in order to join the bulls.
AUDCHF H4 Chart:
On the H4 chart currently the price is moving inside a consolidation and is holding above the breakout. As long as this breakout holds, we may look for evidences of bullish pressure in order to join the bulls, expecting further continuation to the upside.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
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