AUDCHF Forecast And Technical Analysis

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AUDCHF Forecast And Technical Analysis

Hi Traders! AUDCHF forecast and technical analysis is here. The way I would like to analyze the chart for setups is based on multi-timeframe confirmations because in my POV if we get more evidences on different timeframes for the same direction then it makes the setup much more reliable. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club Spoiler alert – free memberships are available! This analysis will be based on price action trading (if you want to learn about price action trading, you can watch this video here).

AUDCHF D1(Daily) Chart Analysis – Key Resistance Zone, Psychological Level, Parabolic Sar

On the daily chart, we have a key resistance zone that has formed based on the 61.8% fibonacci expansion level of the big wave at 0.67924, the 161.8% fibonacci expansion level of the small wave at 0.67134 and the psychological level 0.67. The price which was moving higher reached this key resistance zone, respected it, and is currently moving lower. While looking at the Parabolic Sar we could see that the dots are above the price which we may consider as evidence of bearish pressure. We also had a bearish engulfing candle pattern that had formed which we may consider as another evidence of bearish pressure. We may now move down to lower timeframe and see if we can find evidences supporting this bearish view.

AUDCHF Forecast And Technical Analysis

 

AUDCHF H4(4 Hours) Chart Analysis – Triangle Pattern, Parabolic Sar

Looking at the H4 chart we could see that after the strong move to the downside from the key resistance zone currently, it looks like a flat correction is happening in the form of a triangle pattern. The price is respecting this triangle pattern so far and also based on the Parabolic Sar the dots are above the price which we may consider as evidence of bearish pressure. So if we get a valid breakout below the triangle pattern we may consider it as a validation for the bearish view and we may then expect the price to continue lower further.

AUDCHF Forecast And Technical Analysis

Technical Analysis & Forecast Summary

AUDCHF D1(Daily) Chart Analysis 

  • Key Resistance Zone, Psychological Level, Parabolic Sar

AUDCHF H4(4 Hours) Chart Analysis 

  • Triangle Pattern, Parabolic Sar

Trading Tips

It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.

Also don’t forget to protect your sell trade using a stop loss and make sure to set a target and keep a proper risk/reward ratio.

You will also find a pretty extensive database of educational materials here in the blog – just use the search or check out the Forex Education section above.

Not sure how to enter a trade? Spot reversals (bounces)? Not sure how to spot breakouts?

I invite you to join me in my live market analysis, on daily basis, and improve your trading with us.

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Also, you can get one of my strategies free of charge. You will find all the details here

 

If you have any further questions, don’t hesitate to drop a comment below!

 

Happy Trading!

Yordan Kuzmanov
Chief Trader at the Traders Academy Club

 

 

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