Hi Traders! We have AUDCHF sell opportunity forming at the moment. A detailed analysis of this potential sell setup is as follows:
AUDCHF Daily Chart:
On the daily chart the price which was moving higher has created a bearish divergence which we may consider as an evidence of bearish pressure. We also have a dynamic resistance and the price is holding below it. Hence everything looks good here for the bears, we may now look for more evidences of bearish pressure on lower timeframes in order to join the bears.
AUDCHF H4 Chart:
On the H4 chart we have a good uptrend line that has formed and the price which was moving higher, reached a critical zone, moved lower and broke below this dynamic support. We may now look to sell pullbacks with bearish evidences.
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 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.
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