AUDCHF Trading Plan

Hey traders, how is everything?

Have you noticed that from time to time a group of pairs tend to trade in a clear market condition?

Look at todays and a few of my previous analyses:

Today: AUDCHF
The previous one: AUDNZD
And a few weeks back: GBPAUD

Whats the common denominator here?

The AUD.

It’s not that I have a preference of the AUD over other currencies… It’s just that in the last few weeks, the AUD has been moving smoothly and that’s exactly what I look for in the currency pairs that I trade.

And if they keep moving in a clear condition, giving me clear S&R and swings, I’ll keep trading them.

Have you noticed the same pattern in the last few weeks?

Let me know in the comment section…

Now, here is the AUDCHF Analysis

AUDCHF Long term analysis

First of all, take a look at the long term chart:

AUDCHF Daily Chart

It traded in a rather complicated consolidation period around an important long term level. But it looks like it already broke through that consolidation period triggering a bullish condition.

This means that I’m going to be looking for long opportunities at least until the AUDCHF reaches its next resistance leve which is at 0.8712

AUDCHF Short term analysis

Ok now, take a look at the hourly chart:

AUDCHF Hourly Chart

My trading plan for the AUDCHF is to wait for a small retracement to the ST support level (0.8380) and look for upward pressure to go long.

Your turn

What do you thing about the AUD crosses?

Are you going to trade the AUDCHF?

Share your thoughts

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .

  • Antonio

    You’re right, the line chart can not see the sentiment as the candles, thanks and best regards

  • Raul Lopez

    I’m glad you found it useful… it’s definitely the way to go, to trade based on what the market is doing on the long term charts… this way you can filter out about 70% of false signals…

    I’ll take a look at the NZDUSD and let you know…

    Good luck!

    • Ahsun Ashfaq

      Exactly. please take a look at NZDUSD and let me know.
      Regards

  • pduarte

    Hello Raul,

    Hoppe to find you OK.

    Yep, look’s like some of the AUD crosses are the best ones to trade, and defenetly the AUDCHF is one of them. I aslo like the EURAUD, we still have plenty of room untill the next support level at 1.4115.
    What do you think?

    About football, my benfica did won the last competition, so we have won every internal competitions.
    Are you ready for the World Cup. ( I am not going to talk about Portugal vs Mexico). Ho, sory I just did. Hehehehe.

    Cheers,

    Paulo

    • Raul Lopez

      You are right, I have my next level in the EURAUD at 1.4190…

      And congrats about Benfica, plenty of titles this year for you ah?

      hahahahahhaha You just did …. you know, I have Portugal as one of the possible winners… What do you think? Did you see the game México vs Portugal??? I thought it was OK, but Cristiano didnt play…

      Cheers,

      • pduarte

        I see why you have the 1,4190 as a suport, and I agree whit you, and also is more conservative.
        About Portugal in the World Cup, I think we got to be conservative too and one game at the time, just like we do in forex trading. The first step is the group fase, then we will see.

        Cheer’s

  • Chad Hogan

    Raul,
    I agree with your analysis. However I was waiting for the AUDJPY not so long ago to do exactly the same thing, but price never looked back, not even once! Are you concerned about resistance at 0.85000 on the AUDCHF or do you consider it unimportant as price has previously broke it? Let me know your thoughts.
    Thanks.

    • Raul Lopez

      Yep, it used to be an important level (0.8500), but since it broke through it twice, I’m no longer taking it in consideration!

      What about taking breakouts of the previous high Chad (talking about the aUDJPY)? I know that feeling… It’s crazy isnt it…

      Let me know what you think!

  • Antonio

    Raul, use line charts? Maybe less emotion?

    • Raul Lopez

      Hey Antonio…. I’ve tried it and yes, it could be useful, but at the end you need to know how the market behaves around important levels, and you cant get that information using line charts…

      What do you think?

  • Ling

    The AUDNZD has not reached the buy order yet. My trade is not even triggered.

    • Raul Lopez

      Hello Ling, taking a trade based on a retracement is just one possibility, you can also take breakout of the higher highs???

      What do you think?

  • shahsunashfaq

    Nice.lets see how it is plays out.

    • Raul Lopez

      We’ll see… are you going to take it?

      • mohamed sobhi

        very good trade

        • Raul Lopez

          Did you take it?

  • Waqas Khan

    nice trade lets see

    • Raul Lopez

      Good luck Waqas!

      Are you going to trade it?