AUDCHF FORECAST AND TRADE IDEA
My thoughts on AUDCHF (requested by many subscribers)
- Technical analysis: Although AUDCHF still in a long-tern downtrend, the 4HR OB zone (Order block) is really strong because of many consecutive impulsive candles to the upside and broke more than 4 previous high in the 1hr timeframe. Moreover, there are many big wicks near the 4HR OB ZONE and daily demand zone. Also, the short volume started to decrease. Hence, a trend reversal may happen.
- Fundamental analysis: The Swiss national bank pushing an agenda of currency intervention. Hence, #CHF may be weak in the next few weeks.
Therefore, my bias for AUDCHF is long.
- Technical analysis: Although AUDCHF still in a long-tern downtrend, the 4HR OB zone (Order block) is really strong because of many consecutive impulsive candles to the upside and broke more than 4 previous high in the 1hr timeframe. Moreover, there are many big wicks near the 4HR OB ZONE and daily demand zone. Also, the short volume started to decrease. Hence, a trend reversal may happen.
- Fundamental analysis: The Swiss national bank pushing an agenda of currency intervention. Hence, #CHF may be weak in the next few weeks.
Therefore, my bias for AUDCHF is long.
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