1:2 Trade Spotted On AUDCHF
Tues 13th June 2023 : Daily Currency Strength Analysis
Today we’re looking at Trading Setups in:
- AUDCHF (Primary Focus Pair)
- AUDJPY (Covered In Video)
- GBPJPY (Covered In Video)
Primary Focus Pair: Trade Plan & Details
| AUDCHF Long | Price | Pips +/- | R/R (Max/Min) |
|---|---|---|---|
| Entry Price | 0.6100 | ||
| Stop Loss (Min) | 0.6050 | -50 Pips | 1: 2 |
| Stop Loss (Max) | |||
| Profit 1 | 0.6200 | +100 Pips | |
| Profit 2 |
Details:
There has been very little change to our live forex strength vs weakness tables.
In fact AUD is still the strongest currency.
Today’s primary focus forex pair is AUDCHF, we did feature this currency pair in yesterday’s video which can be found here.
Price has been trending higher after trading through the bearish channel resistance.
This is confirmed by price making higher highs and higher lows on the H4 chart pictured below.
Price has traded through 0.6100 and looks to be heading to the next resistance level.
Resistance at 0.6200 was formed by the highs on 4th April this year.
This level could be targets for traders buying this market.
If price retests our minor support level at 0.6100, we could go long with targets of 0.6200.
Technical Observations:
- AUD is S1 and CHF is W3 on our day traders tables.
- Price is in an upward trend making higher highs and higher lows.
- Price has recently traded through resistance of 0.6100.
- Buyers could target 0.6200 resistance.
Todays 9am (BST) Forex Strength Vs Weakness Tables:
