USDCHF +100 Pips Profit : AUD Strengthens
Thurs 27th July 2023 : Daily Currency Strength Analysis
Today we’re looking at Trading Setups in:
- AUDUSD (Primary Focus Pair)
- USDCHF (Covered In Video)
- CADCHF (Covered In Video)
Our Interest (pending order)/Open Interest (live position)
| EURCHF Short | Price | Pips +/- | R/R (Max/Min) |
|---|---|---|---|
| Entry Price | 0.9790 | ||
| Stop Loss (Min) | |||
| Stop Loss (Max) | 0.9720 | -70 pips | |
| Profit 1 | |||
| Profit 2 | 0.9890 | +100 pips | 1 : 1.4 |
Risk warning: Trading carries a high degree of risk. Read more here.
USDCHF that we featured in our blog post here on the 19th July triggered and is currently in 100+ pips of profit as it tests the swing lows.
A break of these lows could be interesting for sellers looking to trade prices lower.
Today our attention turns towards AUD as it has appeared at S3 on our day traders table, and S2 on our trend traders table.
AUDUSD on the H4 chart shows us that price has found support at the key lows of 0.6720.
This level holds confluence with a daily 200 moving average.
Price has also traded through a key trend line resistance, which tells us that price could trade higher.
If price does trade higher traders could look to target the swing highs at 0.6890.
Technical Observations:
- AUD is S2 and USD is W1 on the trend traders tables.
- AUDUSD has found support at the daily 200 moving average.
- Price has traded through key trend line resistance.
Todays 9am (BST) Forex Strength Vs Weakness Tables:
