CHF Pairs In Focus : High Volatility News Week
Tues 19th September 2023 : Daily Forex Price Action
Today we’re looking at Trading Setups in:
- AUDCHF (Primary Focus Pair)
- NZDCHF (Covered In Video)
- CADCHF (Covered In Video)
Our Interest (pending order)/Open Interest (live position)
This week is filled with high impact data, including announcements from four central banks.
When this happens it can be very difficult to see true direction in the markets.
When trading this week it may be wise to consider using lower risk to avoid being aggressive with our stop losses.
AUDCHF on the weekly (W1) time frame is in a strong downward trend but in a secondary phase meaning price is going against the overall downward trend.
The previous weekly (W1) swing lows of April 2023 are at 0.5850 and could be targets for this secondary wave buyers.
Going down the time frames to the H4 chart, we can see the Stochastic is turning bullish, and price is attempting to make a new high.
Ideally, we would want to see the price retest the supporting trendline on the H4 chart, and support of 0.5750 to look for a long idea.
However, due to the strength and weakness we may not see this pullback.
Check Our Pro-Members Discord Server Channels For Live Alerts, Pending Orders, Positions and Open Trade Updates.
