Last week, AUDUSD broke the long-term up trendline triggering a major sell signal. This week, this signal was denied. By coming back above the trendline and inside the flag formation, the price is telling us that it was a false breakout, which actually is a signal to open the opposite position, so go long.
EURCHF is inside the channel up formation and most recently, in a rising wedge pattern. Most of the last bounces from those supports were very rapid. This time, the price is not bouncing sharply, showing us a rising selling pressure. In case of a breakout, sell signal will be triggered.
USDCHF is still in the positive territory but for the legitimate buy signal we should see a breakout of the upper line of the flag and the 23,6% Fibonacci. Going long right now, without this confirmation, can be a bit too risky.
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Major reversal on the AUDUSD. Two setups with the CHF.
Published 12/15/2017, 05:05 AM
Major reversal on the AUDUSD. Two setups with the CHF.
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