AUDCHF(
AUDCHF) bounced from the Potential Reversal Zone (PRZ)[0.5273 CHF- 0.5200 CHF], which aligns with the Yearly Support(1) and the 50% Fibonacci level of the previous bullish impulse.
From a Classic Technical Analysis perspective, AUDCHF appears to be breaking out of a Bullish Flag Pattern, which may suggest the continuation of the previous uptrend.
This bullish reaction also confirms the importance of the Support zone(0.51166 CHF-0.49773 CHF), where buyers stepped in aggressively.
In terms of Elliott Wave theory, it seems that AUDCHF has completed the bearish waves and we should wait for the bullish waves.
I expect AUDCHF to continue rising after a successful breakout from the flag’s upper boundary. If momentum sustains, the target could be around 0.54444 CHF.
Note: Stop Loss (SL) = 0.51972 CHF
Australian Dollar/ Swiss Franc Analyze (4-hour time frame).
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅ 'like' ✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
AUDCHF) bounced from the Potential Reversal Zone (PRZ)[0.5273 CHF- 0.5200 CHF], which aligns with the Yearly Support(1) and the 50% Fibonacci level of the previous bullish impulse.From a Classic Technical Analysis perspective, AUDCHF appears to be breaking out of a Bullish Flag Pattern, which may suggest the continuation of the previous uptrend.
This bullish reaction also confirms the importance of the Support zone(0.51166 CHF-0.49773 CHF), where buyers stepped in aggressively.
In terms of Elliott Wave theory, it seems that AUDCHF has completed the bearish waves and we should wait for the bullish waves.
I expect AUDCHF to continue rising after a successful breakout from the flag’s upper boundary. If momentum sustains, the target could be around 0.54444 CHF.
Note: Stop Loss (SL) = 0.51972 CHF
Australian Dollar/ Swiss Franc Analyze (4-hour time frame).
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅ 'like' ✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
Position was activated at 0.52877 CHF
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🎁Welcome than a 50% bonus(Low Spread)👉vtm.pro/Y3AV7r
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.