AUDCHF – November 25th

I have been waiting for a nice reversal in this currency pair before adding my pending orders. The last few trading sessions gave me what I was looking for and the AUDCHF approached the right levels for my taste. Check out the charts in it and see if it will be a fit for your portfolio as well, but personally I am looking for potentially 500 pips on this one.

AUD/CHF was in a strong and consistent uptrend during the recent months that Buyers were successful in obtaining the highest price of 0.84784.Currently price in monthly, weekly and daily time frames is above 5-day moving average that shows a consistent ascending trend with the potential of more increment in long period of time. In 4H time frame as it is obvious in the picture below , there is Wolf wave pattern and warns the descending of price to the Target line .

According to the formed movements in chart of this currency pair, there is AB=CD (2 Patterns)harmonic pattern with none-ideal ratios of 61.8 and 127.2 between bottom price of 0.81149 and the top price of 0.84784 that by completion of the D point in this pattern, there is warning for ascending of the price and changing price direction. Right now the first warning for descending of the price (in the same direction with harmonic pattern’s signal) is breaking of the supportive level of 0.84092.

Stoch indicator is in saturation Buy area in H4 time frame and in divergence mode with the price chart that confirms the TOP price of 0.84784 warns about changing trend direction. Generally according to the current situation in 4H time frame until the top price of 0.84784 is preserved, price will have the potential of descending but according to the potential of ascending in long period of time, the descending of price is temporary and unstable.

Technical Analysis of AUD/CHF dated 2014.06.13

On the H4 chart, the price is going neutral inside a box. We will see the price fuels up by the price if the upper level of the box around 0.7290 is broken above.

Forex Analysis

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