Receive the latest alerts via email

Trade of the Day: AUD/CHF

By: Dima Chernovolov AUD/CHF recently broke the daily Rising Wedge chart pattern which was identified previously by Autochartist. Autochartist rates the quality of this Rising Wedge at the 9-bar level – which is the result of the strong Initial Trend (7 bars), above-average Uniformity (6 bars) and near-maximum Clarity (9 bars). AUD/CHF is expected to…
Trade of the Day:  AUD/CHF

By: Dima Chernovolov

AUD/CHF recently broke the daily Rising Wedge chart pattern which was identified previously by Autochartist. Autochartist rates the quality of this Rising Wedge at the 9-bar level – which is the result of the strong Initial Trend (7 bars), above-average Uniformity (6 bars) and near-maximum Clarity (9 bars). AUD/CHF is expected to fall toward the forecast price 0.6589.

As can be seen from the daily AUD/CHF chart below, the breakout of this Rising Wedge follows the earlier downward reversal from the powerful resistance area lying between the resistance level 0.6840 (monthly high from September) and the 50% Fibonacci correction of the previous downward impulse from February. The proximity of this resistance zone adds to the probability AUD/CHF will continue to fall toward the forecast price 0.6589.

Total
0
Shares
Previous Post

SPX500 is quickly approaching 3080.7500. We expect either a breakout through this line, or a rebound.

Next Post

ETHUSD is quickly approaching 182.4400. We expect either a breakout through this line, or a rebound.

ARTÍCULOS RELACIONADOS
Trade of the Day:  GBP/CAD

Trade of the Day: GBP/CAD

GBP/CAD recently broke the key 30-minute resistance level 1.6152, which was recently identified by Autochartist. Autochartist rates the significance of this resistance level at the 3-bar level – which is the result of the three previous reversals from this price level. GBP/CAD is expected to rise further toward the forecast price 1.6258. As can be…
Read More
Trade of the Day:  EUR/CAD

Trade of the Day: EUR/CAD

EUR/CAD continues to fall toward the key support level 1.4491, which was previously identified by Autochartist. Autochartist rates the Significance of this support level at the 5-bar level – which is the result of the five previous reversals from this price level. EUR/CAD is expected to continue to fall toward the support level 1.4491. As…
Read More