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Aussie vs Swiss franc AUDCHF sell strategy.

Sell AUDCHF from 0.723000 area aiming for closes near 0.69000 medium term. Stops set on closes above 0.73800 on a weekly time frame.

AUDCHF has been rising from lows set near 0.68000 area but the overall trend has been a decline. From the above chart, we note a declining market sentiment and recently a lower high has been formed near the 0.73700 area forming our first reference point for a sell position and we expect a resumption to the lows near 0.6800 area in the medium term.

  • AUDCHF sell trade from 0.723000 aiming for closes near 0.69000 area. 
  • Stops to trade are set initially at 0.73800 area on a weekly close above 0.73800 will close our trade position as prices will likely head much higher if achieved.

 

Risks to the trade include a resumption of risk-on environment especially in Britain and brexit negotiations, global trade and EU italy crisis which may cause CHF declines. Thur 29/11/2018 0645 GMT CHF GDP data release are data releases to watch for this week.

This Post Has One Comment

  1. I am going to be patient with my trades from now on. Thanks for your trading advices. I am selling AUDCHF too.

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