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:
Whats the common denominator here?
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:
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:
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.
What do you thing about the AUD crosses?
Are you going to trade the AUDCHF?
Share your thoughts